Press coverage about Public Storage (NYSE:PSA) has trended somewhat positive on Tuesday, Accern Sentiment Analysis reports. The research group scores the sentiment of press coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Public Storage earned a news impact score of 0.22 on Accern’s scale. Accern also gave headlines about the real estate investment trust an impact score of 45.6942998742562 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the headlines that may have effected Accern Sentiment Analysis’s scoring:
- Public Storage Announces Tax Treatment of 2017 Dividends (markets.financialcontent.com)
- Trading Spotlight on Shares of Public Storage (PSA) – Clawson News (clawsonnews.com)
- Traders Purchase High Volume of Public Storage Put Options (PSA) (americanbankingnews.com)
- Developers propose 8-story apartment tower, expanded self-storage in Fort Lauderdale (finance.yahoo.com)
- Stock Under Review: Looking at the Levels for Public Storage (PSA) – Clawson News (clawsonnews.com)
A number of brokerages recently weighed in on PSA. Morgan Stanley lowered shares of Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 target price for the company. in a research report on Wednesday, December 13th. Bank of America lowered 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 report on Monday, December 4th. They noted that the move was a valuation call. Jefferies Group set a $212.00 price objective on shares of Public Storage and gave the company a “hold” rating in a research report on Tuesday, November 28th. Robert W. Baird downgraded shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 target price on the stock. in a research note on Tuesday, November 28th. Finally, B. Riley set a $220.00 target price on shares of Public Storage and gave the company a “hold” rating in a research note on Wednesday, November 15th. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $209.38.
Public Storage (NYSE:PSA) last released its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.99). Public Storage had a net margin of 52.48% and a return on equity of 27.78%. analysts expect that Public Storage will post 10.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Tuesday, December 12th. Public Storage’s dividend payout ratio is currently 116.96%.
In related news, Director Gary E. Pruitt sold 5,000 shares of Public Storage stock in a transaction that occurred on Thursday, December 14th. The shares were 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 directly owns 8,350 shares in the company, valued at approximately $1,770,951.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Reyes sold 60,000 shares of Public Storage stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $212.24, for a total transaction of $12,734,400.00. The disclosure for this sale can be found here. 14.42% of the stock is currently owned by company insiders.
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Public Storage Company Profile
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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