Economy

Public Storage (PSA) Raises Dividend to $2.00 Per Share

Public Storage had 54 analyst reports since July 21, 2015 according to SRatingsIntel. KeyCorp cut shares of Public Storage from a "sector weight" rating to an "underweight" rating and set a $230.00 target price for the company.in a research report on Friday, July 15th. Jefferies maintained the shares of PSA in report on Friday, July 14 with "Hold" rating. Finally, BidaskClub downgraded shares of Public Storage from a "sell" rating to a "strong sell" rating in a research report on Monday, July 31st. Outstanding shares refer to a company's stock presently held by all its shareholders, counting share blocks held by institutional shareholders and restricted shares owned by the company's officers and insiders. The consensus analyst target price is $209.25. This is a boost from Public Storage's previous quarterly dividend of $1.80. The company's stock had a trading volume of 516,379 shares. If we take a wider approach, shares have been trading -3.43% away from the 200-day moving average. Public Storage has $275 highest and $184.0 lowest target.

The company is now down by 0.14% percent from yesterday's close. Reilly Financial Advisors, LLC divested its investment by shedding 1 shares a decrease of 0.4% from 06/30/2017 to 09/30/2017. The company had revenue of $624.20 million for the quarter, compared to analysts' expectations of $626.27 million.

Public Storage has a beta of 0.66, offering the possibility of a higher rate of return, but also posing more risk. The firm's quarterly revenue was up 5.0% on a year-over-year basis. During the same period a year ago, the firm earned $2.40 earnings per share.

According to Zacks, analysts expect that Public Storage will report full year earnings of $10.23 per share for the current year, with EPS estimates ranging from $10.09 to $10.39.

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More notable recent Public Storage (NYSE:PSA) news were published by: Seekingalpha.com which released: "Public Storage leads self-storage names lower after Q3 disappointment" on October 26, 2017, also Nasdaq.com with their article: "Can Public Storage (PSA) Pull Off A Surprise in Q3 Earnings?" published on October 20, 2017, Investorplace.com published: "Public Storage (PSA) a Hold on Lackluster Earnings Growth" on October 25, 2017. Stockholders of record on Wednesday, December 13th will be issued a dividend of $2.00 per share.

On a similar note, analysts expect EPS of $2.6 in September 2017 quarter and $2.73 in December 2017 quarter, representing 3.59% and 3.02% growth, respectively. The ex-dividend date is Tuesday, December 12th. Public Storage's dividend payout ratio (DPR) is presently 113.96%.

In related news, insider John Reyes sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, September 14th. The shares were purchased at an average price of $200.59 per share, with a total value of $401,180.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Hedge funds and other institutional investors own 78.01% of the company's stock.

Apg Asset Management Us Inc. says it bought 350,712 shares during the last quarter increasing its stake in Public Storage (PSA) by 8.3%. Xact Kapitalforvaltning AB grew its stake in shares of Public Storage by 1.6% in the 3rd quarter. Teachers Advisors LLC now owns 431,347 shares of the real estate investment trust's stock worth $94,426,000 after buying an additional 19,155 shares during the last quarter. OppenheimerFunds Inc. lifted its position in shares of Public Storage by 9.0% during the 1st quarter. Robeco Institutional Asset Management B.v. owns 3,062 shares worth $655,000. Johnson Financial Group Inc. now owns 614 shares of the real estate investment trust's stock valued at $128,000 after purchasing an additional 450 shares during the last quarter. Bessemer Group Inc. acquired a new stake in Public Storage in the 2nd quarter valued at approximately $105,000. NEXT Financial Group Inc now owns 743 shares of the real estate investment trust's stock valued at $155,000 after buying an additional 40 shares during the last quarter. Finally, Public Storage's return on investment stands at 25.30% when you divide the shareholder's return by the cost.



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