Citigroup Cuts Public Storage (PSA) Price Target to $200.00
Public Storage (NYSE:PSA) had its price target lowered by Citigroup from $220.00 to $200.00 in a research report report published on Thursday. The firm currently has a neutral rating on the real estate investment trust’s stock.
Several other brokerages also recently commented on PSA. Robert W. Baird downgraded shares of Public Storage from a neutral rating to an underperform rating and set a $205.00 target price for the company. in a report on Tuesday, November 28th. B. Riley set a $220.00 price objective on shares of Public Storage and gave the stock a hold rating in a report on Wednesday, November 15th. Bank of America downgraded shares of Public Storage from a neutral rating to an underperform rating and set a $212.00 price objective for the company. in a report on Monday, December 4th. They noted that the move was a valuation call. Morgan Stanley downgraded shares of Public Storage from an equal weight rating to an underweight rating and set a $199.00 price objective for the company. in a report on Wednesday, December 13th. Finally, Jefferies Group set a $212.00 price objective on shares of Public Storage and gave the stock a hold rating in a report on Tuesday, November 28th. Seven equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Public Storage has an average rating of Hold and a consensus price target of $205.36.
Shares of Public Storage (PSA) opened at $195.00 on Thursday. The company has a market cap of $33,938.00, a PE ratio of 28.93, a PEG ratio of 3.68 and a beta of 0.31. Public Storage has a 1-year low of $180.48 and a 1-year high of $232.21.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Wednesday, March 14th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $8.00 dividend on an annualized basis and a yield of 4.10%. Public Storage’s dividend payout ratio is presently 118.69%.
In other Public Storage news, Director Gary E. Pruitt sold 5,000 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.42% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its position in Public Storage by 841.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 527 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 471 shares during the period. Truewealth LLC bought a new position in Public Storage during the fourth quarter worth about $127,000. Trustcore Financial Services LLC bought a new position in Public Storage during the fourth quarter worth about $145,000. Certified Advisory Corp bought a new position in Public Storage during the fourth quarter worth about $175,000. Finally, Advisory Services Network LLC boosted its position in Public Storage by 184.6% during the fourth quarter. Advisory Services Network LLC now owns 942 shares of the real estate investment trust’s stock worth $197,000 after purchasing an additional 611 shares during the period. Hedge funds and other institutional investors own 81.02% of the company’s stock.
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.
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