Public Storage (NYSE:PSA) has been given a consensus recommendation of “Hold” by the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $209.38.

PSA has been the subject of a number of research reports. B. Riley restated a “neutral” rating on shares of Public Storage in a research report on Wednesday, November 1st. Bank of America lowered shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 target price for the company. in a research report on Monday, December 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Barclays restated a “hold” rating and set a $207.00 target price on shares of Public Storage in a research report on Thursday, October 19th. Finally, BMO Capital Markets initiated coverage on shares of Public Storage in a research report on Monday, September 11th. They set an “underperform” rating and a $193.00 target price for the company.

Shares of Public Storage (NYSE PSA) traded down $1.19 during trading hours on Monday, hitting $201.92. 631,300 shares of the company were exchanged, compared to its average volume of 752,669. Public Storage has a 12-month low of $192.15 and a 12-month high of $232.21. The company has a market capitalization of $35,140.00, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 4.19 and a beta of 0.44.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th were given a dividend of $2.00 per share. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $8.00 annualized dividend and a yield of 3.96%. Public Storage’s dividend payout ratio (DPR) is currently 116.96%.

In other Public Storage news, Director Gary E. Pruitt sold 5,000 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the completion of the transaction, the director now owns 8,350 shares in the company, valued at $1,770,951.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Reyes sold 60,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $212.24, for a total transaction of $12,734,400.00. The disclosure for this sale can be found here. 14.42% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Public Storage by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 22,057,097 shares of the real estate investment trust’s stock worth $4,599,567,000 after acquiring an additional 727,573 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Public Storage by 3.5% in the 2nd quarter. BlackRock Inc. now owns 14,657,306 shares of the real estate investment trust’s stock worth $3,056,489,000 after acquiring an additional 489,998 shares during the last quarter. APG Asset Management US Inc. lifted its holdings in shares of Public Storage by 8.3% in the 3rd quarter. APG Asset Management US Inc. now owns 4,563,523 shares of the real estate investment trust’s stock worth $976,548,000 after acquiring an additional 350,712 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Public Storage by 41.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,466,228 shares of the real estate investment trust’s stock worth $950,191,000 after acquiring an additional 1,304,669 shares during the last quarter. Finally, Capital World Investors lifted its holdings in shares of Public Storage by 93.3% in the 2nd quarter. Capital World Investors now owns 4,036,000 shares of the real estate investment trust’s stock worth $841,627,000 after acquiring an additional 1,948,000 shares during the last quarter. Hedge funds and other institutional investors own 80.64% of the company’s stock.

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Public Storage Company Profile

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.

Analyst Recommendations for Public Storage (NYSE:PSA)

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