Public Storage (PSA) to Issue Dividend of $2.00 on December 30th

Public Storage (NYSE:PSA) declared a dividend on Tuesday, October 29th, Fidelity reports. Shareholders of record on Friday, December 13th will be given a dividend of 2.00 per share by the real estate investment trust on Monday, December 30th. The ex-dividend date is Thursday, December 12th.

PSA stock traded down $2.01 during midday trading on Tuesday, reaching $211.35. 42,996 shares of the company were exchanged, compared to its average volume of 868,723. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 1.22. The business has a 50-day moving average price of $218.10 and a two-hundred day moving average price of $239.98. Public Storage has a one year low of $193.89 and a one year high of $266.76. The firm has a market capitalization of $37.36 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 5.57 and a beta of 0.04.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $1.93 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $729.33 million during the quarter, compared to analysts’ expectations of $732.26 million. During the same period in the previous year, the business posted $1.85 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts anticipate that Public Storage will post 10.76 earnings per share for the current fiscal year.

A number of equities analysts have commented on PSA shares. Evercore ISI cut shares of Public Storage from an “in-line” rating to an “underperform” rating and reduced their price objective for the stock from $246.00 to $228.00 in a research report on Tuesday, October 1st. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $228.00 price objective for the company. in a research report on Tuesday, November 19th. SunTrust Banks boosted their target price on shares of Public Storage from $215.00 to $233.00 and gave the company a “hold” rating in a research report on Tuesday, August 27th. Citigroup boosted their target price on shares of Public Storage from $223.00 to $250.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Finally, Wells Fargo & Co cut shares of Public Storage from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $230.00 to $202.00 in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $241.21.

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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Dividend History for Public Storage (NYSE:PSA)

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