The Goldman Sachs Group Cuts Public Storage (NYSE:PSA) Price Target to $321.00

Public Storage (NYSE:PSA) had its price target decreased by The Goldman Sachs Group from $332.00 to $321.00 in a research report report published on Thursday morning,MarketScreener reports. The Goldman Sachs Group currently has a buy rating on the real estate investment trust’s stock.

Several other equities analysts have also weighed in on the company. Barclays set a $331.00 target price on Public Storage in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research note on Wednesday, October 8th. Morgan Stanley assumed coverage on shares of Public Storage in a research note on Friday, December 5th. They set an “equal weight” rating and a $290.00 price objective on the stock. Raymond James Financial decreased their price objective on shares of Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 18th. Finally, BNP Paribas Exane cut their target price on shares of Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $315.56.

Public Storage Trading Up 0.4%

Shares of NYSE PSA opened at $294.29 on Thursday. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $322.49. The firm has a market capitalization of $51.64 billion, a P/E ratio of 30.56, a P/E/G ratio of 7.16 and a beta of 1.01. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.45 and a quick ratio of 0.45. The company’s 50 day simple moving average is $270.31 and its 200 day simple moving average is $282.58.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, beating the consensus estimate of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the company posted $4.20 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, analysts predict that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.1%. Public Storage’s dividend payout ratio is currently 124.61%.

Institutional Investors Weigh In On Public Storage

Several institutional investors have recently added to or reduced their stakes in the stock. Whitener Capital Management Inc. increased its holdings in Public Storage by 2.3% during the 2nd quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock worth $472,000 after purchasing an additional 36 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Public Storage by 9.5% during the second quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 36 shares during the period. Patrick M Sweeney & Associates Inc. grew its holdings in shares of Public Storage by 3.5% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock worth $317,000 after buying an additional 36 shares in the last quarter. CoreCap Advisors LLC raised its position in Public Storage by 7.0% in the 3rd quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 37 shares during the last quarter. Finally, Mather Group LLC. raised its position in Public Storage by 4.6% in the 2nd quarter. Mather Group LLC. now owns 864 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 38 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.