Investors Buy Public Storage (PSA) on Weakness

Traders bought shares of Public Storage (NYSE:PSA) on weakness during trading on Friday. $178.13 million flowed into the stock on the tick-up and $52.65 million flowed out of the stock on the tick-down, for a money net flow of $125.48 million into the stock. Of all stocks tracked, Public Storage had the 22nd highest net in-flow for the day. Public Storage traded down ($0.95) for the day and closed at $217.62

PSA has been the topic of several research analyst reports. Bank of America set a $230.00 target price on Public Storage and gave the company a “hold” rating in a research report on Friday, March 1st. Jefferies Financial Group lowered Public Storage from a “hold” rating to an “underperform” rating and cut their target price for the company from $202.00 to $175.00 in a research report on Thursday, December 13th. Barclays restated a “hold” rating and set a $215.00 target price on shares of Public Storage in a research report on Thursday, March 7th. Finally, Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Public Storage currently has an average rating of “Hold” and a consensus target price of $209.50.

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $38.09 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 4.38 and a beta of 0.26.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, March 13th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Tuesday, March 12th.

A number of hedge funds have recently bought and sold shares of PSA. Sage Capital Advisors llc acquired a new position in Public Storage during the 4th quarter worth approximately $29,000. Oregon Public Employees Retirement Fund raised its stake in shares of Public Storage by 18,823.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,180,090 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 7,142,148 shares during the last quarter. CNB Bank purchased a new stake in shares of Public Storage in the fourth quarter worth approximately $42,000. JOYN Advisors Inc. raised its stake in shares of Public Storage by 38.9% in the fourth quarter. JOYN Advisors Inc. now owns 243 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 68 shares during the last quarter. Finally, Berman Capital Advisors LLC purchased a new stake in shares of Public Storage in the fourth quarter worth approximately $51,000. 80.16% of the stock is currently owned by institutional investors and hedge funds.

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Public Storage Company Profile (NYSE:PSA)

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. The Company's headquarters are located in Glendale, California. At December 31, 2018, we had interests in 2,429 self-storage facilities located in 38 states with approximately 162 million net rentable square feet in the United States and we owned a 35.2% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR), which owned 232 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand.

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