Public Storage (NYSE:PSA) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on Public Storage, with 14 hold ratings and seven buys among 21 brokerages. The average 12-month price target is $326.05, although several firms recently raised their targets.
• Public Storage shares opened at $328.20, near their 52-week high of $335.55, with a market capitalization of $57.62 billion. Institutional investors own 78.79% of the stock, while an insider recently sold 950 shares.
• The REIT declared a quarterly dividend of $3.00 per share, equivalent to $12.00 annually and a 3.7% yield; the payout ratio is 114.5%.

Public Storage (NYSE:PSA - Get Free Report) has earned a consensus recommendation of "Hold" from the twenty-one brokerages that are covering the company, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $326.0526.

Several research firms recently weighed in on PSA. Scotiabank increased their price target on shares of Public Storage from $342.00 to $345.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Mizuho lifted their price objective on shares of Public Storage from $301.00 to $316.00 and gave the company a "neutral" rating in a research note on Wednesday, May 27th. Royal Bank Of Canada boosted their target price on shares of Public Storage from $305.00 to $318.00 and gave the company a "sector perform" rating in a report on Friday, July 31st. Jefferies Financial Group increased their target price on Public Storage from $350.00 to $355.00 and gave the stock a "buy" rating in a research report on Wednesday, May 20th. Finally, Citigroup raised their price target on Public Storage from $325.00 to $363.00 and gave the stock a "buy" rating in a report on Tuesday, June 16th.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the transaction, the insider owned 1,414 shares of the company's stock, valued at $459,281.34. The trade was a 40.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 11.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Public Storage

Large investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in Public Storage in the 2nd quarter valued at $5,495,077,000. Norges Bank bought a new position in shares of Public Storage in the fourth quarter worth $1,163,751,000. Capital International Investors increased its holdings in shares of Public Storage by 821.4% in the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust's stock worth $1,073,032,000 after purchasing an additional 3,686,211 shares during the period. Vanguard Group Inc. raised its position in shares of Public Storage by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust's stock worth $6,576,534,000 after buying an additional 2,274,397 shares in the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Public Storage in the second quarter worth $400,776,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Price Performance

Public Storage stock opened at $328.20 on Friday. The company's 50 day moving average price is $319.85 and its two-hundred day moving average price is $303.23. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. Public Storage has a 52 week low of $256.54 and a 52 week high of $335.55. The stock has a market cap of $57.62 billion, a P/E ratio of 31.32, a P/E/G ratio of 3.85 and a beta of 0.96.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. Public Storage's dividend payout ratio is 114.50%.

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.

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