Public Storage (NYSE:PSA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Public Storage (NYSE:PSAGet Rating) has been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $365.58.

Several research analysts recently weighed in on the company. Stifel Nicolaus lowered their price objective on Public Storage from $410.00 to $360.00 in a research report on Tuesday, June 21st. StockNews.com upgraded Public Storage from a “hold” rating to a “buy” rating in a research report on Monday, September 12th. Morgan Stanley lowered their price target on Public Storage from $357.00 to $298.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 25th. Jefferies Financial Group lowered their price target on Public Storage from $465.00 to $369.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. Finally, Evercore ISI lowered their price target on Public Storage from $333.00 to $327.00 and set an “in-line” rating for the company in a research report on Monday.

Public Storage Trading Down 1.5 %

Shares of Public Storage stock opened at $301.73 on Thursday. The firm has a market capitalization of $52.94 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 2.85 and a beta of 0.33. Public Storage has a fifty-two week low of $292.32 and a fifty-two week high of $421.76. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.14 and a current ratio of 2.14. The stock has a 50 day moving average of $331.97 and a 200 day moving average of $342.86.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, September 14th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Tuesday, September 13th. Public Storage’s payout ratio is currently 68.14%.

Insider Activity

In other news, Director Tamara Hughes Gustavson sold 203 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $348.29, for a total value of $70,702.87. Following the sale, the director now directly owns 5,500 shares in the company, valued at $1,915,595. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Public Storage news, Director John Reyes sold 51,637 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $353.15, for a total value of $18,235,606.55. Following the sale, the director now directly owns 175,449 shares in the company, valued at $61,959,814.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tamara Hughes Gustavson sold 203 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $348.29, for a total value of $70,702.87. Following the completion of the sale, the director now owns 5,500 shares in the company, valued at $1,915,595. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,670 shares of company stock worth $18,599,374. Corporate insiders own 11.00% of the company’s stock.

Institutional Trading of Public Storage

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC boosted its position in Public Storage by 1.7% during the 1st quarter. Signaturefd LLC now owns 1,719 shares of the real estate investment trust’s stock worth $671,000 after purchasing an additional 28 shares during the period. Glassman Wealth Services boosted its position in Public Storage by 16.4% during the 4th quarter. Glassman Wealth Services now owns 206 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 29 shares during the period. Jacobi Capital Management LLC boosted its position in Public Storage by 2.2% in the 1st quarter. Jacobi Capital Management LLC now owns 1,423 shares of the real estate investment trust’s stock valued at $555,000 after buying an additional 31 shares during the last quarter. Trust Co. of Vermont boosted its position in Public Storage by 3.4% in the 1st quarter. Trust Co. of Vermont now owns 983 shares of the real estate investment trust’s stock valued at $384,000 after buying an additional 32 shares during the last quarter. Finally, Maltin Wealth Management Inc. boosted its position in Public Storage by 0.8% in the 2nd quarter. Maltin Wealth Management Inc. now owns 3,849 shares of the real estate investment trust’s stock valued at $1,204,000 after buying an additional 32 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors and hedge funds.

About Public Storage

(Get Rating)

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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 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 239 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 September 30, 2020.

Featured Stories

Analyst Recommendations for Public Storage (NYSE:PSA)

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.