Somewhat Positive Media Coverage Somewhat Unlikely to Affect Public Storage (NYSE:PSA) Share Price
Media stories about Public Storage (NYSE:PSA) have been trending somewhat positive this week, according to Accern Sentiment. Accern scores the sentiment of media coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Public Storage earned a news impact score of 0.20 on Accern’s scale. Accern also assigned news coverage about the real estate investment trust an impact score of 46.9752767142824 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
Here are some of the news articles that may have impacted Accern Sentiment’s rankings:
- Critical Analysis: Extra Space Storage (EXR) and Public Storage (NYSE:PSA) (americanbankingnews.com)
- Reviewing Extra Space Storage (EXR) & Public Storage (NYSE:PSA) (americanbankingnews.com)
- Comparing National Storage Affiliates Trust (NSA) and Public Storage (PSA) (americanbankingnews.com)
- Public Storage (NYSE:PSA) Position Decreased by Renaissance Technologies LLC (campdesrecrues.com)
- Public Storage (PSA) Ownership Decreased by Alliancebernstein LP (ismboard.com)
Public Storage (NYSE PSA) opened at 200.54 on Tuesday. The company has a market capitalization of $34.89 billion, a P/E ratio of 28.61 and a beta of 0.41. The company has a 50-day moving average of $205.40 and a 200-day moving average of $214.97. Public Storage has a 1-year low of $192.15 and a 1-year high of $233.39.
Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by $0.95. The company had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $626.27 million. Public Storage had a net margin of 53.35% and a return on equity of 27.80%. Public Storage’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $2.40 earnings per share. Equities analysts expect that Public Storage will post $7.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Wednesday, September 13th will be given a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, September 12th. This represents a $8.00 annualized dividend and a yield of 3.99%. Public Storage’s dividend payout ratio (DPR) is 113.96%.
Several brokerages have recently commented on PSA. Zacks Investment Research downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Cantor Fitzgerald lowered their price objective on shares of Public Storage from $222.00 to $216.00 and set a “neutral” rating for the company in a research note on Monday, May 22nd. Bank of America Corporation lowered their price objective on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating for the company in a research note on Thursday, July 20th. Jefferies Group LLC reaffirmed a “hold” rating and set a $222.00 price objective on shares of Public Storage in a research note on Friday, July 14th. Finally, Barclays PLC upped their price objective on shares of Public Storage from $222.00 to $224.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 19th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. Public Storage has an average rating of “Hold” and an average target price of $221.64.
In related news, Director Ronald P. Spogli acquired 2,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was bought at an average cost of $200.59 per share, with a total value of $401,180.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Reyes sold 60,000 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $207.11, for a total transaction of $12,426,600.00. The disclosure for this sale can be found here. 14.42% of the stock is owned by insiders.
Public Storage Company Profile
Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
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