Public Storage (NYSE:PSA – Get Free Report) has been assigned an average rating of “Hold” from the twenty-one analysts that are presently covering the stock, MarketBeat reports. Fourteen research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $326.0526.
Several equities analysts have weighed in on PSA shares. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Mizuho upped their price objective on Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. BNP Paribas Exane raised their target price on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. Weiss Ratings upgraded Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $349.00 price target on shares of Public Storage in a research note on Friday, July 10th.
Read Our Latest Research Report on PSA
Public Storage Trading Down 0.8%
Public Storage Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.7%. The ex-dividend date is Tuesday, September 15th. Public Storage’s payout ratio is 114.50%.
Insider Buying and Selling
In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the transaction, the insider owned 1,414 shares of the company’s stock, valued at $459,281.34. This trade represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.10% of the stock is owned by insiders.
Institutional Investors Weigh In On Public Storage
Institutional investors and hedge funds have recently made changes to their positions in the stock. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Public Storage by 25.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock valued at $4,829,000 after buying an additional 3,763 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Public Storage by 3.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock worth $75,171,000 after acquiring an additional 9,618 shares in the last quarter. Principal Financial Group Inc. lifted its position in Public Storage by 5.3% in the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock valued at $63,838,000 after acquiring an additional 12,444 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Public Storage by 5.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock valued at $118,576,000 after acquiring an additional 25,353 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Public Storage by 4.5% in the fourth quarter. Legal & General Group Plc now owns 1,951,779 shares of the real estate investment trust’s stock valued at $506,487,000 after acquiring an additional 83,916 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.
About Public Storage
Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.
The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.
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