Shares of Public Storage (NYSE:PSA) have earned a consensus recommendation of “Hold” from the thirteen analysts that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $246.97.
Several equities research analysts recently commented on PSA shares. Bank of America upgraded shares of Public Storage from a “neutral” rating to a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $255.00 target price for the company in a research note on Friday, October 18th. Argus upped their price objective on shares of Public Storage to $290.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. They noted that the move was a valuation call. Morgan Stanley raised shares of Public Storage from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $193.00 to $240.00 in a research note on Monday, September 16th. Finally, SunTrust Banks upped their price objective on shares of Public Storage from $215.00 to $233.00 and gave the company a “hold” rating in a research note on Tuesday, August 27th.
Shares of NYSE PSA traded down $0.96 during trading on Thursday, hitting $213.53. 4,902 shares of the company were exchanged, compared to its average volume of 996,672. The company has a market cap of $37.73 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 5.02 and a beta of 0.07. Public Storage has a 1 year low of $193.89 and a 1 year high of $266.76. The firm’s fifty day moving average price is $239.83 and its 200 day moving average price is $241.85. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 1.22.
Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. Public Storage had a net margin of 60.98% and a return on equity of 33.96%. The company had revenue of $729.33 million for the quarter, compared to analyst estimates of $732.26 million. During the same period in the previous year, the firm earned $1.85 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that Public Storage will post 10.76 earnings per share for the current year.
In other news, Chairman B Wayne Et Al Hughes sold 38,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $257.89, for a total transaction of $9,799,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 278,000 shares of company stock valued at $72,725,820. Corporate insiders own 14.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cohen & Steers Inc. raised its stake in Public Storage by 36.3% in the second quarter. Cohen & Steers Inc. now owns 8,050,898 shares of the real estate investment trust’s stock valued at $1,917,482,000 after buying an additional 2,142,247 shares during the period. JPMorgan Chase & Co. boosted its position in Public Storage by 10.8% during the second quarter. JPMorgan Chase & Co. now owns 3,980,811 shares of the real estate investment trust’s stock valued at $943,612,000 after buying an additional 388,950 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Public Storage by 31.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,966,418 shares of the real estate investment trust’s stock worth $944,681,000 after purchasing an additional 945,431 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Public Storage by 12.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,782,701 shares of the real estate investment trust’s stock worth $682,514,000 after purchasing an additional 311,801 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Public Storage by 1.8% during the second quarter. Northern Trust Corp now owns 2,337,815 shares of the real estate investment trust’s stock worth $556,799,000 after purchasing an additional 41,965 shares during the period. 81.32% of the stock is owned by institutional investors.
Public Storage Company Profile
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. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.
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