Brokerages Set Public Storage (NYSE:PSA) Price Target at $315.56

Public Storage (NYSE:PSA) has been assigned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $313.1875.

Several research analysts have recently commented on the company. Royal Bank Of Canada decreased their price objective on Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. BMO Capital Markets decreased their target price on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a research note on Monday, December 22nd. Wells Fargo & Company lifted their price target on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, The Goldman Sachs Group dropped their price target on shares of Public Storage from $332.00 to $321.00 and set a “buy” rating for the company in a research report on Thursday, January 15th.

Institutional Investors Weigh In On Public Storage

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Asset Planning Inc. purchased a new stake in shares of Public Storage during the second quarter worth about $25,000. First Pacific Financial purchased a new position in Public Storage in the 3rd quarter worth approximately $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage in the 3rd quarter worth approximately $27,000. Asset Dedication LLC grew its holdings in Public Storage by 111.1% during the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 50 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in shares of Public Storage during the third quarter valued at approximately $30,000. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Down 0.7%

PSA opened at $286.74 on Tuesday. The firm’s 50 day simple moving average is $271.42 and its two-hundred day simple moving average is $282.46. The company has a market capitalization of $50.31 billion, a PE ratio of 29.78, a PEG ratio of 7.05 and a beta of 1.01. Public Storage has a 1-year low of $256.54 and a 1-year high of $322.49. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the firm posted $4.20 EPS. The company’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. As a group, equities analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 4.2%. Public Storage’s dividend payout ratio is currently 124.61%.

Public Storage Company Profile

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.