Public Storage (NYSE:PSA) reached a new 52-week high during trading on Friday . The company traded as high as $237.99 and last traded at $237.99, with a volume of 26454 shares trading hands. The stock had previously closed at $233.26.
PSA has been the subject of a number of analyst reports. Argus increased their price target on Public Storage to $240.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. ValuEngine raised Public Storage from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. Jefferies Financial Group raised Public Storage from an “underperform” rating to a “hold” rating and increased their price target for the company from $181.00 to $201.00 in a research report on Tuesday, April 9th. Barclays restated a “hold” rating and issued a $215.00 price objective on shares of Public Storage in a research note on Thursday, March 7th. Finally, Bank of America set a $230.00 price objective on Public Storage and gave the company a “hold” rating in a research note on Friday, March 1st. Five equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Public Storage has an average rating of “Hold” and a consensus target price of $211.88.
The company has a market cap of $40.40 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 5.40 and a beta of 0.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.58 and a quick ratio of 0.58.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $8.00 annualized dividend and a dividend yield of 3.36%. Public Storage’s payout ratio is 75.76%.
Several hedge funds have recently bought and sold shares of the company. Marshall Wace North America L.P. bought a new position in Public Storage in the 1st quarter worth about $305,000. Accident Compensation Corp bought a new position in Public Storage in the 1st quarter worth about $784,000. Allstate Corp boosted its stake in Public Storage by 31.2% in the 1st quarter. Allstate Corp now owns 7,029 shares of the real estate investment trust’s stock worth $1,531,000 after purchasing an additional 1,672 shares during the period. Columbia Asset Management boosted its stake in Public Storage by 42.2% in the 1st quarter. Columbia Asset Management now owns 1,095 shares of the real estate investment trust’s stock worth $238,000 after purchasing an additional 325 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Public Storage by 428.2% in the 1st quarter. Nordea Investment Management AB now owns 107,273 shares of the real estate investment trust’s stock worth $23,362,000 after purchasing an additional 86,963 shares during the period. Institutional investors own 80.54% of the company’s stock.
WARNING: This report was published by Rockland Register and is owned by of Rockland Register. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://rocklandregister.com/2019/05/31/public-storage-psa-reaches-new-12-month-high-at-237-99.html.
Public Storage Company Profile (NYSE:PSA)
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.
See Also: What is channel trading?
Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.