Public Storage (PSA) Given a $220.00 Price Target by B. Riley Analysts

B. Riley set a $220.00 price objective on Public Storage (NYSE:PSA) in a research report released on Wednesday morning. The firm currently has a hold rating on the real estate investment trust’s stock.

Several other research analysts also recently commented on the stock. SunTrust Banks, Inc. restated a hold rating and set a $200.00 price objective on shares of Public Storage in a research report on Friday, October 27th. FBR & Co set a $220.00 price target on shares of Public Storage and gave the stock a hold rating in a report on Thursday, October 26th. BMO Capital Markets set a $193.00 price target on shares of Public Storage and gave the stock a sell rating in a report on Thursday, October 26th. Barclays PLC reiterated a hold rating and set a $207.00 price target on shares of Public Storage in a report on Thursday, October 19th. Finally, Zacks Investment Research upgraded shares of Public Storage from a sell rating to a hold rating in a report on Friday, September 15th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. Public Storage presently has a consensus rating of Hold and an average price target of $213.08.

Shares of Public Storage (PSA) traded up $3.62 on Wednesday, reaching $213.67. 934,708 shares of the company’s stock traded hands, compared to its average volume of 853,932. Public Storage has a 1-year low of $192.15 and a 1-year high of $232.21. The firm has a market capitalization of $37,190.00, a P/E ratio of 21.49, a P/E/G ratio of 4.45 and a beta of 0.43.

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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.74%. Public Storage’s dividend payout ratio is 116.96%.

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Public Storage by 3.4% in the second quarter. Vanguard Group Inc. now owns 22,057,097 shares of the real estate investment trust’s stock worth $4,599,567,000 after purchasing an additional 727,573 shares during the last quarter. BlackRock Inc. grew its stake in shares of Public Storage by 3.5% in the second quarter. BlackRock Inc. now owns 14,657,306 shares of the real estate investment trust’s stock worth $3,056,489,000 after purchasing an additional 489,998 shares during the last quarter. APG Asset Management US Inc. grew its stake in shares of Public Storage by 8.3% in the third quarter. APG Asset Management US Inc. now owns 4,563,523 shares of the real estate investment trust’s stock worth $976,548,000 after purchasing an additional 350,712 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Public Storage by 41.3% in the third quarter. JPMorgan Chase & Co. now owns 4,466,228 shares of the real estate investment trust’s stock worth $950,191,000 after purchasing an additional 1,304,669 shares during the last quarter. Finally, Capital World Investors grew its stake in shares of Public Storage by 93.3% in the second quarter. Capital World Investors now owns 4,036,000 shares of the real estate investment trust’s stock worth $841,627,000 after purchasing an additional 1,948,000 shares during the last quarter. 80.18% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Public Storage (NYSE:PSA)

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