Public Storage (PSA) Given a $213.00 Price Target by Cantor Fitzgerald Analysts

Cantor Fitzgerald set a $213.00 price target on Public Storage (NYSE:PSA) in a research report sent to investors on Monday, March 12th. The brokerage currently has a hold rating on the real estate investment trust’s stock. Cantor Fitzgerald also issued estimates for Public Storage’s FY2019 earnings at $10.82 EPS.

A number of other research analysts have also recently weighed in on PSA. Jefferies Group set a $199.00 price objective on shares of Public Storage and gave the stock a hold rating in a research note on Monday, March 5th. Citigroup dropped their price objective on shares of Public Storage from $220.00 to $200.00 and set a neutral rating for the company in a research note on Thursday, March 1st. B. Riley set a $190.00 price objective on shares of Public Storage and gave the stock a neutral rating in a research note on Wednesday, February 21st. Bank of America cut shares of Public Storage from a neutral rating to an underperform rating and set a $212.00 price objective for the company. in a research note on Monday, December 4th. They noted that the move was a valuation call. Finally, Robert W. Baird cut shares of Public Storage from a neutral rating to an underperform rating and set a $205.00 price objective for the company. in a research note on Tuesday, November 28th. Seven analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $204.47.

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Public Storage stock traded down $2.08 during mid-day trading on Monday, reaching $199.28. The company had a trading volume of 724,186 shares, compared to its average volume of 1,047,885. Public Storage has a 1 year low of $180.48 and a 1 year high of $232.21. The stock has a market cap of $35,546.83, a PE ratio of 19.48, a price-to-earnings-growth ratio of 4.03 and a beta of 0.28.

Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.72 by $0.03. Public Storage had a net margin of 51.16% and a return on equity of 27.48%. The company had revenue of $634.22 million during the quarter, compared to analysts’ expectations of $643.46 million. During the same period last year, the company posted $2.03 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. research analysts predict that Public Storage will post 10.55 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Wednesday, March 14th were paid a $2.00 dividend. The ex-dividend date of this dividend was Tuesday, March 13th. This represents a $8.00 annualized dividend and a yield of 4.01%. Public Storage’s payout ratio is currently 78.20%.

In other Public Storage news, SVP Lily Yan Hughes sold 443 shares of Public Storage stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $194.53, for a total value of $86,176.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 14.00% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PSA. Nationwide Fund Advisors boosted its holdings in shares of Public Storage by 5.7% in the 3rd quarter. Nationwide Fund Advisors now owns 125,152 shares of the real estate investment trust’s stock valued at $26,781,000 after purchasing an additional 6,757 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Public Storage by 13.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,507 shares of the real estate investment trust’s stock valued at $8,240,000 after purchasing an additional 4,491 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Public Storage by 119.6% in the 3rd quarter. American Century Companies Inc. now owns 114,174 shares of the real estate investment trust’s stock valued at $24,432,000 after purchasing an additional 62,175 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in shares of Public Storage by 2.4% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 11,960 shares of the real estate investment trust’s stock valued at $2,559,000 after purchasing an additional 279 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Public Storage by 6.2% in the 3rd quarter. CIBC Asset Management Inc now owns 53,755 shares of the real estate investment trust’s stock valued at $11,503,000 after purchasing an additional 3,146 shares during the last quarter. Institutional investors own 81.66% of the company’s stock.

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About Public Storage

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. The Company's headquarters are located in Glendale, California. At December 31, 2017, we had interests in 2,386 self-storage facilities located in 38 states with approximately 159 million net rentable square feet in the United States and 222 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the ?Shurgard? brand.

Analyst Recommendations for Public Storage (NYSE:PSA)

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