Public Storage (NYSE:PSA) Receives $367.80 Average PT from Analysts

Shares of Public Storage (NYSE:PSA – Get Rating) have earned an average rating of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $367.80.

Several research firms have recently weighed in on PSA. StockNews.com began coverage on Public Storage in a research note on Thursday. They set a “hold” rating for the company. Raymond James downgraded Public Storage from an “outperform” rating to a “market perform” rating in a research note on Monday, January 9th.

Public Storage Stock Up 0.3 %

Shares of NYSE:PSA opened at $295.67 on Thursday. The company has a market capitalization of $51.97 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 3.51 and a beta of 0.44. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.51 and a quick ratio of 1.51. The business has a fifty day moving average price of $296.40 and a two-hundred day moving average price of $296.72. Public Storage has a 1 year low of $270.13 and a 1 year high of $421.76.

Public Storage (NYSE:PSA – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The real estate investment trust reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.99 by ($1.93). The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.07 billion. Public Storage had a net margin of 101.60% and a return on equity of 72.77%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.54 EPS. Analysts forecast that Public Storage will post 16.77 earnings per share for the current year.

Public Storage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 30th. Shareholders of record on Wednesday, March 15th will be issued a $3.00 dividend. The ex-dividend date is Tuesday, March 14th. This represents a $12.00 annualized dividend and a dividend yield of 4.06%. This is a boost from Public Storage’s previous quarterly dividend of $2.00. Public Storage’s dividend payout ratio (DPR) is presently 51.09%.

Institutional Trading of Public Storage

Several institutional investors and hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. increased its stake in Public Storage by 8.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,832 shares of the real estate investment trust’s stock worth $5,807,000 after purchasing an additional 1,562 shares during the period. AlphaCrest Capital Management LLC grew its position in shares of Public Storage by 58.5% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 11,976 shares of the real estate investment trust’s stock worth $3,745,000 after buying an additional 4,422 shares during the last quarter. National Pension Service grew its position in shares of Public Storage by 3.7% in the 3rd quarter. National Pension Service now owns 263,654 shares of the real estate investment trust’s stock worth $75,798,000 after buying an additional 9,289 shares during the last quarter. IFP Advisors Inc grew its position in shares of Public Storage by 2.9% in the 3rd quarter. IFP Advisors Inc now owns 2,893 shares of the real estate investment trust’s stock worth $429,000 after buying an additional 82 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Public Storage in the 2nd quarter worth approximately $106,000. Hedge funds and other institutional investors own 77.88% of the company’s stock.

Public Storage Company Profile

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Public Storage operates as a real estate investment trust, which engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, and Other Items. The Self-storage Operations segment reflects the rental operations from all self-storage facilities.