Public Storage (PSA) Stock Price Down 2.1%
Public Storage (NYSE:PSA) fell 2.1% during trading on Thursday . The company traded as low as $252.49 and last traded at $252.75, with a volume of 298,675 shares trading hands. The stock had previously closed at $258.13.
A number of research firms have commented on PSA. Barclays PLC lifted their target price on Public Storage from $251.00 to $253.00 and gave the company an “equal weight” rating in a research report on Monday, May 2nd. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Public Storage in a research note on Sunday, May 22nd. Royal Bank Of Canada lifted their price objective on Public Storage from $235.00 to $243.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 11th. Vetr cut Public Storage from a “hold” rating to a “sell” rating and set a $239.50 price objective for the company. in a research note on Monday, April 25th. Finally, FBR & Co reaffirmed a “marketperform” rating and issued a $250.00 price objective on shares of Public Storage in a research note on Wednesday, June 22nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $240.89.
The firm’s 50 day moving average is $250.30 and its 200-day moving average is $254.34. The stock has a market capitalization of $44.62 billion and a price-to-earnings ratio of 41.31.
Public Storage (NYSE:PSA) last announced its earnings results on Tuesday, April 26th. The real estate investment trust reported $2.10 earnings per share for the quarter, missing the consensus estimate of $2.19 by $0.09. During the same period in the previous year, the company earned $1.94 EPS. The firm earned $611 million during the quarter, compared to the consensus estimate of $585.73 million. Public Storage’s quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts anticipate that Public Storage will post $9.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were issued a $1.80 dividend. The ex-dividend date of this dividend was Monday, June 13th. This is a positive change from Public Storage’s previous quarterly dividend of $1.70. This represents a $7.20 dividend on an annualized basis and a yield of 2.80%.
In other Public Storage news, Director B Wayne Hughes, Jr. bought 22,100 shares of the business’s stock in a transaction on Wednesday, June 8th. The shares were purchased at an average price of $252.42 per share, with a total value of $5,578,482.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Other institutional investors have modified their holdings of the company. Penserra Capital Management LLC acquired a new position in shares of Public Storage during the fourth quarter worth about $1,839,000. GAM Holding AG boosted its position in shares of Public Storage by 30.7% in the fourth quarter. GAM Holding AG now owns 15,520 shares of the real estate investment trust’s stock worth $3,844,000 after buying an additional 3,642 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Public Storage by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 19,680,643 shares of the real estate investment trust’s stock worth $4,874,896,000 after buying an additional 548,943 shares in the last quarter. New Mexico Educational Retirement Board boosted its position in shares of Public Storage by 1.6% in the fourth quarter. New Mexico Educational Retirement Board now owns 49,736 shares of the real estate investment trust’s stock worth $12,320,000 after buying an additional 800 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Public Storage by 94.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 116,296 shares of the real estate investment trust’s stock worth $28,805,000 after buying an additional 56,370 shares in the last quarter.
Public Storage (the Trust) is a real estate investment trust (REIT). The Trust’s principal business activities include Domestic Self-Storage, European Self-Storage and Commercial. The Trust acquires, develops, owns and operates self-storage facilities, which offer storage spaces for lease, on a month-to-month basis, for personal and business use.
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