Brokerages Set Public Storage (NYSE:PSA) Target Price at $307.13

Shares of Public Storage (NYSE:PSA) have received a consensus rating of “Hold” from the eighteen analysts that are presently covering the stock, MarketBeat.com reports. Twelve research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $307.1250.

A number of analysts recently weighed in on PSA shares. Bank of America lowered shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price objective on the stock. in a research report on Thursday, February 5th. Barclays upped their target price on Public Storage from $331.00 to $347.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft downgraded Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target on the stock. in a report on Tuesday, January 20th. Morgan Stanley initiated coverage on Public Storage in a research note on Friday, December 5th. They set an “equal weight” rating and a $290.00 price target for the company. Finally, Evercore set a $302.00 price objective on Public Storage in a report on Tuesday, February 17th.

Institutional Investors Weigh In On Public Storage

Several large investors have recently added to or reduced their stakes in the stock. First Pacific Financial purchased a new position in shares of Public Storage during the third quarter worth approximately $26,000. Bayban purchased a new stake in shares of Public Storage in the fourth quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage in the third quarter worth approximately $27,000. Asset Dedication LLC increased its holdings in Public Storage by 111.1% during the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 50 shares during the period. Finally, Raiffeisen Bank International AG purchased a new position in Public Storage during the 3rd quarter worth $30,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Performance

NYSE PSA opened at $298.11 on Wednesday. The business has a 50 day simple moving average of $291.14 and a two-hundred day simple moving average of $284.85. Public Storage has a 1-year low of $256.54 and a 1-year high of $312.95. The stock has a market capitalization of $52.32 billion, a PE ratio of 33.05, a P/E/G ratio of 6.03 and a beta of 0.99. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a $3.00 dividend. The ex-dividend date is Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.0%. Public Storage’s dividend payout ratio is presently 133.04%.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.