News coverage about Public Storage (NYSE:PSA) has been trending somewhat positive recently, according to Accern. Accern identifies positive and negative media coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Public Storage earned a media sentiment score of 0.18 on Accern’s scale. Accern also assigned press coverage about the real estate investment trust an impact score of 46.6689685566061 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news headlines that may have effected Accern Sentiment Analysis’s scoring:
- Public Storage Sees Unusually Large Options Volume (PSA) (americanbankingnews.com)
- Cash Dividend On The Way From Public Storage’s 6.450% Cumulative Preferred Stock, Series X – Nasdaq (nasdaq.com)
- Ex-Dividend Alert: Public Storage Has a Dividend Yield of 4.04%; Will Trade Ex-Dividend on March 13, 2018 (finance.yahoo.com)
- Public Storage: Earn a 5.5% Yield From This Real Estate Business (incomeinvestors.com)
- Public Storage Announces Be Our Valentine Video Contest Winners – Business Wire (press release) (businesswire.com)
A number of research firms have recently weighed in on PSA. Jefferies Group set a $212.00 price objective on shares of Public Storage and gave the stock a “hold” rating in a report on Tuesday, November 28th. Morgan Stanley downgraded shares of Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price objective for the company. in a report on Wednesday, December 13th. Citigroup reduced their price target on shares of Public Storage from $220.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, March 1st. Barclays reissued a “hold” rating and set a $201.00 price target on shares of Public Storage in a report on Wednesday, January 31st. Finally, Robert W. Baird downgraded shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 price target for the company. in a report on Tuesday, November 28th. Seven analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $204.43.
Public Storage (NYSE:PSA) last released its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.72 by $0.03. Public Storage had a return on equity of 27.48% and a net margin of 51.16%. The company had revenue of $634.22 million for the quarter, compared to analysts’ expectations of $643.46 million. During the same quarter in the previous year, the business posted $2.03 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. equities research analysts forecast that Public Storage will post 10.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Wednesday, March 14th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $8.00 annualized dividend and a dividend yield of 4.05%. Public Storage’s payout ratio is 118.69%.
In related news, Director Gary E. Pruitt sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $212.09, for a total value of $1,060,450.00. Following the completion of the sale, the director now owns 8,350 shares of the company’s stock, valued at approximately $1,770,951.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 14.42% of the company’s stock.
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About Public Storage
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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