Public Storage (NYSE:PSA) Given Consensus Recommendation of “Hold” by Analysts

Public Storage (NYSE:PSA) has been assigned a consensus recommendation of “Hold” from the thirteen research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $346.67.

A number of research firms have issued reports on PSA. Zacks Investment Research downgraded Public Storage from a “buy” rating to a “hold” rating and set a $349.00 price objective for the company. in a report on Friday, November 12th. Wolfe Research raised Public Storage from a “peer perform” rating to an “outperform” rating in a research note on Monday, October 18th. Berenberg Bank began coverage on Public Storage in a research note on Thursday, October 7th. They issued a “hold” rating and a $321.00 target price on the stock. Citigroup raised Public Storage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $353.00 to $400.00 in a research note on Tuesday, December 14th. Finally, Truist Financial increased their target price on Public Storage from $353.00 to $380.00 in a research note on Tuesday.

In other Public Storage news, Director Heisz Leslie Stone sold 9,045 shares of the firm’s stock in a transaction dated Wednesday, December 15th. The stock was sold at an average price of $362.26, for a total value of $3,276,641.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Nathaniel A. Vitan sold 25,000 shares of the firm’s stock in a transaction dated Monday, December 6th. The stock was sold at an average price of $339.18, for a total value of $8,479,500.00. The disclosure for this sale can be found here. Company insiders own 10.87% of the company’s stock.

A number of large investors have recently made changes to their positions in PSA. Strategic Blueprint LLC purchased a new position in Public Storage in the second quarter worth about $26,000. Moors & Cabot Inc. raised its stake in shares of Public Storage by 2,051.5% in the third quarter. Moors & Cabot Inc. now owns 25,000 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 23,838 shares during the period. Private Ocean LLC bought a new position in shares of Public Storage in the third quarter worth about $32,000. Huntington National Bank raised its stake in shares of Public Storage by 72.7% in the third quarter. Huntington National Bank now owns 114 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 48 shares during the period. Finally, Danda Trouve Investment Management Inc. bought a new position in shares of Public Storage in the third quarter worth about $34,000. 97.32% of the stock is currently owned by institutional investors and hedge funds.

PSA traded up $0.93 during trading on Friday, reaching $353.35. The stock had a trading volume of 828,997 shares, compared to its average volume of 685,407. The stock’s 50 day moving average is $351.42 and its two-hundred day moving average is $328.60. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $61.96 billion, a price-to-earnings ratio of 42.22, a P/E/G ratio of 3.06 and a beta of 0.22. Public Storage has a one year low of $221.58 and a one year high of $377.36.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Monday, November 1st. The real estate investment trust reported $2.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.71). The firm had revenue of $716.05 million during the quarter, compared to the consensus estimate of $858.76 million. Public Storage had a return on equity of 34.52% and a net margin of 52.00%. Public Storage’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.63 EPS. On average, equities research analysts predict that Public Storage will post 12.8 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 30th. Investors of record on Wednesday, December 15th were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, December 14th. This represents a $8.00 annualized dividend and a dividend yield of 2.26%. Public Storage’s dividend payout ratio (DPR) is presently 95.58%.

Public Storage Company Profile

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

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Analyst Recommendations for Public Storage (NYSE:PSA)

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