According to Bloomberg.com, the twelve separate research companies that monitor the shares of Public Storage (NYSE: PSA) have given it an average rating of “Hold” overall for the company. Five financial advisors have recommended buying the stock, while six others have simply recommended keeping it in one’s portfolio.
The price target provided for the stock by analysts who have published ratings on the stock is an average of $367.80 for the stock’s price over the following year.
During the previous few months, several hedge funds and other institutional investors modified the processes by which they invested in the company.
The ownership stake that Vanguard Group INC holds in Public Storage went up by 1.4% during the company’s third fiscal quarter.
In the most recent fiscal quarter, Vanguard Group INC purchased 286,384 real estate investment trust shares.
This brought the total number of shares owned by the organization to 20,495,913, valued at $6,001,408,000.
To bring its holdings in Public Storage up to their current level, BlackRock INC boosted those holdings by 1.1% during the third quarter.
BlackRock INC now owns 17,157,864 shares of the real estate investment trust, with a combined value of $5,023,993,000 after purchasing an additional 186,843 shares during the most recent quarter.
This brings the total number of shares that BlackRock, INC, During the fourth and final quarter period, Geode Capital Management LLC increased the number of shares of Public Storage Company stock owned by 11.6%. Geode Capital Management LLC now has 3,612,903 real estate investment trust shares following the purchase of an additional 374,203 shares during the most recent quarter.
The shares have a total value of $1,011,330,000 because the company has 3,612,903.
The Norges Bank increased its holdings in public storage by approximately $670,512,000.
This increase occurred during the fourth quarter.
Last but not least, Legal & General Group Plc increased the percentage of public storage shares it owned by 0.9% during the second quarter.
This certainly should not be considered the least important development.
As a result of the company’s purchase of an additional 20,884 shares during the prior quarter, Legal & General Group Plc now has a total of 2,248,795 shares of the real estate investment trust under its control.
The value of these shares on the market currently is $703,134. 77.88% of the company’s shares are owned by institutional investors and hedge funds, making up most of these shareholders.
In a separate development, Raymond James lowered its rating for Public Storage from “outperform” to “market perform” in a research note published on January 9.
On Thursday, shares of NYSE: PSA started the trading day priced at $288.56 each.
The company’s market capitalization is currently sitting at $50.72 billion, and it possesses a price-to-earnings-growth ratio of 2.22, a price-to-earnings ratio of 12.28, and a beta coefficient of 0.44.
The debt-to-equity ratio, the current ratio, and the quick ratio are all equal to 1.18, and they are each equal to 1.51 in terms of their respective values.
The value of the stock’s 50-day moving average is currently sitting at $295.55, while the value of the stock’s 200-day moving average is currently sitting at $297.30.
Public Storage’s share price has seen a wide range of movement over the past year, going from a low of $270.13 to a high of $421.76.
Public Storage (NYSE: PSA) announced on Tuesday, February 21, the dissemination of the quarterly financial data it had previously compiled. However, the company only reported actual results of $2.06 per share, even though the consensus estimate for the REIT’s quarterly profits per share was $3.99.
The company’s revenue for the quarter came in at $1.09 billion, significantly higher than the average prediction of $1.07 billion made by financial analysts.
The net margin and the return on equity were extremely high at Public Storage, at 102.60 and 72.77 percent, respectively. Compared to the same quarter in the previous year, the increase in revenue was 17.8% higher than expected.
The corporation reported a profit of $3.54 per share during the same period in the prior year’s financial statements.
According to industry analysts’ forecasts, Public Storage is expected to realize a profit of 16.79 cents per share for the full year of 2018.
In addition, the company has announced a quarterly dividend, which will be distributed on the 30th of this month and every three months after that. Shareholders on record as of the 15th of the month will be eligible for a dividend payment of $3.
The day shareholders are no longer entitled to receive dividend payments is Tuesday, March 14.
This equates to an annual dividend payment of $12 and a dividend yield of 4.16% for the stock.
This new amount represents an increase from the $2.00 paid out as the quarterly dividend by Public Storage in the past; that amount was the basis for calculating this new amount.
At this time, Public Storage’s dividend payout ratio (also known as DPR) stands at 34.06%.