Public Storage (NYSE:PSA) Earns Neutral Rating from Analysts at Goldman Sachs Group
Goldman Sachs Group started coverage on shares of Public Storage (NYSE:PSA) in a research note published on Friday, Briefing.com Automated Import reports. The brokerage issued a neutral rating and a $213.00 price target on the real estate investment trust’s stock.
PSA has been the topic of several other research reports. Argus cut Public Storage from a buy rating to a hold rating in a research note on Friday, June 19th. Bank of America raised Public Storage from a neutral rating to a buy rating and upped their target price for the company from $254.00 to $267.00 in a research report on Tuesday, March 24th. Citigroup reduced their target price on Public Storage from $215.00 to $210.00 and set a neutral rating for the company in a research note on Tuesday, April 7th. SunTrust Banks dropped their price target on shares of Public Storage from $205.00 to $195.00 and set a hold rating for the company in a research note on Monday, May 11th. Finally, Wells Fargo & Co cut their price target on shares of Public Storage from $201.00 to $200.00 and set an underweight rating on the stock in a report on Friday, June 19th. Six equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Public Storage currently has an average rating of Hold and a consensus price target of $220.14.
NYSE PSA opened at $191.10 on Friday. The stock has a market cap of $33.08 billion, a P/E ratio of 26.00, a PEG ratio of 4.96 and a beta of 0.13. The company’s fifty day simple moving average is $192.93 and its 200-day simple moving average is $204.75. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.49. Public Storage has a 52 week low of $155.37 and a 52 week high of $266.76.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $2.00 per share. The ex-dividend date is Friday, June 12th. This represents a $8.00 annualized dividend and a yield of 4.19%. Public Storage’s payout ratio is 74.42%.
In other news, insider Nathaniel A. Vitan sold 269 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $200.18, for a total value of $53,848.42. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 13.78% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of PSA. Sunbelt Securities Inc. acquired a new stake in shares of Public Storage during the 4th quarter worth approximately $4,259,000. Verus Capital Partners LLC acquired a new stake in Public Storage in the fourth quarter worth $34,000. Royal Fund Management LLC acquired a new stake in Public Storage in the first quarter worth $32,000. Tower Research Capital LLC TRC lifted its stake in Public Storage by 58.0% in the first quarter. Tower Research Capital LLC TRC now owns 207 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 76 shares during the last quarter. Finally, Enterprise Financial Services Corp boosted its holdings in shares of Public Storage by 163.3% during the first quarter. Enterprise Financial Services Corp now owns 208 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 129 shares during the period. 79.66% of the stock is owned by institutional investors.
Public Storage Company Profile
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.
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