BMO Capital Markets set a $193.00 target price on Public Storage (NYSE:PSA) in a research note published on Thursday morning. The brokerage currently has a sell rating on the real estate investment trust’s stock.
Other equities analysts have also issued reports about the stock. Argus decreased their price objective on shares of Public Storage from $260.00 to $250.00 and set a buy rating for the company in a report on Tuesday, August 1st. Barclays PLC decreased their price objective on shares of Public Storage from $216.00 to $209.00 and set an equal weight rating for the company in a report on Tuesday, July 18th. Jefferies Group LLC set a $210.00 price objective on shares of Public Storage and gave the stock a hold rating in a report on Thursday, August 17th. Zacks Investment Research upgraded shares of Public Storage from a sell rating to a hold rating in a report on Friday, September 15th. Finally, Bank of America Corporation decreased their price objective on shares of Public Storage from $222.00 to $218.00 and set a neutral rating for the company in a report on Thursday, July 20th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and an average target price of $213.08.
Shares of Public Storage (NYSE PSA) opened at 206.90 on Thursday. Public Storage has a 52 week low of $192.15 and a 52 week high of $232.21. The stock has a 50 day moving average price of $213.49 and a 200 day moving average price of $210.75. The stock has a market capitalization of $36.00 billion, a P/E ratio of 29.51 and a beta of 0.44.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be paid a $2.00 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $8.00 annualized dividend and a dividend yield of 3.87%. Public Storage’s dividend payout ratio (DPR) is 116.79%.
In related news, Director Ronald P. Spogli acquired 2,000 shares of Public Storage stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average cost of $200.59 per share, for a total transaction of $401,180.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 14.42% of the company’s stock.
Large investors have recently bought and sold shares of the company. Bessemer Group Inc. purchased a new stake in shares of Public Storage in the 2nd quarter worth $105,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Public Storage by 15.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 75 shares during the period. CENTRAL TRUST Co boosted its holdings in Public Storage by 41.3% in the 2nd quarter. CENTRAL TRUST Co now owns 578 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 169 shares during the period. IHT Wealth Management LLC boosted its holdings in Public Storage by 43.0% in the 2nd quarter. IHT Wealth Management LLC now owns 582 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 175 shares during the period. Finally, Johnson Financial Group Inc. boosted its holdings in Public Storage by 274.4% in the 2nd quarter. Johnson Financial Group Inc. now owns 614 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 450 shares during the period. Hedge funds and other institutional investors own 80.08% of the company’s stock.
About Public Storage
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.
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