Shares of Public Storage (NYSE:PSA) have received a consensus rating of “Hold” from the fourteen brokerages that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $238.13.

A number of brokerages have recently issued reports on PSA. Morgan Stanley lowered their price objective on Public Storage from $240.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Wells Fargo & Co downgraded Public Storage from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $230.00 to $202.00 in a research report on Tuesday, December 10th. Evercore ISI downgraded Public Storage from an “in-line” rating to an “underperform” rating and lowered their price objective for the stock from $246.00 to $228.00 in a research report on Tuesday, October 1st. Argus lowered their price objective on Public Storage from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Monday, December 2nd. Finally, Barclays set a $256.00 price objective on Public Storage and gave the stock a “sell” rating in a research report on Friday, October 11th.

Shares of PSA stock traded up $1.40 during mid-day trading on Tuesday, reaching $224.60. 29,861 shares of the stock traded hands, compared to its average volume of 830,798. The stock’s fifty day simple moving average is $213.30 and its two-hundred day simple moving average is $234.01. Public Storage has a 1-year low of $199.53 and a 1-year high of $266.76. The company has a market cap of $38.60 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 5.66 and a beta of 0.04. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.38.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.03. Public Storage had a return on equity of 33.96% and a net margin of 60.98%. The firm had revenue of $729.33 million for the quarter, compared to analyst estimates of $732.26 million. During the same period last year, the firm posted $1.85 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Public Storage will post 10.74 EPS for the current fiscal year.

The company also recently disclosed a dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $2.00 dividend. The ex-dividend date was Thursday, December 12th. Public Storage’s dividend payout ratio (DPR) is presently 75.76%.

A number of institutional investors have recently made changes to their positions in PSA. Voya Investment Management LLC boosted its position in shares of Public Storage by 89.9% during the third quarter. Voya Investment Management LLC now owns 111,919 shares of the real estate investment trust’s stock valued at $27,451,000 after buying an additional 52,972 shares during the last quarter. Merriman Wealth Management LLC boosted its position in shares of Public Storage by 8.6% during the fourth quarter. Merriman Wealth Management LLC now owns 2,612 shares of the real estate investment trust’s stock valued at $556,000 after buying an additional 206 shares during the last quarter. Andra AP fonden boosted its position in shares of Public Storage by 4.4% during the third quarter. Andra AP fonden now owns 26,200 shares of the real estate investment trust’s stock valued at $6,426,000 after buying an additional 1,100 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Public Storage by 12.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,782,701 shares of the real estate investment trust’s stock valued at $682,514,000 after buying an additional 311,801 shares during the last quarter. Finally, Klingman & Associates LLC purchased a new position in shares of Public Storage during the third quarter valued at approximately $233,000. 79.52% of the stock is owned by hedge funds and other institutional investors.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.

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Analyst Recommendations for Public Storage (NYSE:PSA)

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