Public Storage (PSA) Receives $203.58 Consensus Target Price from Brokerages

Public Storage (NYSE:PSA) has been given an average rating of “Hold” by the fifteen research firms that are covering the stock, reports. Six equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $203.58.

A number of equities analysts have recently commented on PSA shares. Jefferies Financial Group downgraded Public Storage from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $202.00 to $175.00 in a research report on Thursday, December 13th. Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Finally, Citigroup lowered their price target on Public Storage from $235.00 to $202.00 and set a “hold” rating for the company in a report on Friday, October 5th.

Shares of PSA opened at $200.70 on Friday. The stock has a market capitalization of $34.56 billion, a P/E ratio of 19.62, a P/E/G ratio of 3.84 and a beta of 0.24. Public Storage has a 12-month low of $180.48 and a 12-month high of $234.90. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.06 and a current ratio of 1.05.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.85. The firm had revenue of $706.37 million for the quarter, compared to analyst estimates of $704.51 million. Public Storage had a net margin of 55.38% and a return on equity of 30.87%. During the same period in the previous year, the firm earned $1.61 EPS. Analysts expect that Public Storage will post 10.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 27th. Stockholders of record on Wednesday, December 12th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Tuesday, December 11th. Public Storage’s dividend payout ratio (DPR) is presently 78.20%.

In other Public Storage news, SVP Lily Yan Hughes sold 15,000 shares of the stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $212.14, for a total value of $3,182,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary E. Pruitt sold 5,000 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $203.35, for a total value of $1,016,750.00. Following the completion of the transaction, the director now owns 8,350 shares of the company’s stock, valued at approximately $1,697,972.50. The disclosure for this sale can be found here. 14.00% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in PSA. Matthew Goff Investment Advisor LLC purchased a new position in Public Storage in the third quarter worth $97,000. TLP Group LLC purchased a new position in Public Storage in the third quarter worth $124,000. Sound Income Strategies LLC grew its holdings in Public Storage by 29.0% in the fourth quarter. Sound Income Strategies LLC now owns 645 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 145 shares during the last quarter. Columbia Asset Management acquired a new stake in Public Storage in the third quarter valued at $155,000. Finally, Centaurus Financial Inc. acquired a new stake in Public Storage in the second quarter valued at $199,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.

About Public Storage

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. The Company's headquarters are located in Glendale, California. At September 30, 2018, we had interests in 2,418 self-storage facilities located in 38 states with approximately 161 million net rentable square feet in the United States and 228 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the “Shurgard” brand.

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Analyst Recommendations for Public Storage (NYSE:PSA)

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