Public Storage (NYSE:PSA) Receives $306.63 Consensus Target Price from Analysts

Public Storage (NYSE:PSA) has earned a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the company, Marketbeat.com reports. Twelve analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $307.00.

PSA has been the topic of several recent research reports. Truist Financial raised their price objective on shares of Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Wall Street Zen lowered shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Public Storage in a research note on Friday. UBS Group lowered their target price on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Finally, Morgan Stanley initiated coverage on Public Storage in a report on Friday, December 5th. They set an “equal weight” rating and a $290.00 target price on the stock.

Public Storage Stock Performance

Shares of NYSE PSA opened at $305.00 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75. Public Storage has a one year low of $256.54 and a one year high of $322.49. The business’s 50-day moving average price is $278.36 and its two-hundred day moving average price is $282.70. The company has a market capitalization of $53.51 billion, a P/E ratio of 33.81, a price-to-earnings-growth ratio of 10.17 and a beta of 1.01.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, March 16th. Public Storage’s payout ratio is presently 133.04%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PSA. National Pension Service raised its position in shares of Public Storage by 4.2% during the third quarter. National Pension Service now owns 255,300 shares of the real estate investment trust’s stock valued at $73,743,000 after buying an additional 10,345 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in Public Storage by 57.5% during the third quarter. J.W. Cole Advisors Inc. now owns 4,974 shares of the real estate investment trust’s stock valued at $1,437,000 after acquiring an additional 1,816 shares during the period. Cornerstone Planning Group LLC raised its holdings in Public Storage by 14,992.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 11,772 shares of the real estate investment trust’s stock valued at $3,400,000 after acquiring an additional 11,694 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Public Storage by 19.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 41,094 shares of the real estate investment trust’s stock valued at $11,766,000 after acquiring an additional 6,814 shares in the last quarter. Finally, Vanderbilt University lifted its position in shares of Public Storage by 103.1% in the 3rd quarter. Vanderbilt University now owns 9,112 shares of the real estate investment trust’s stock worth $2,632,000 after acquiring an additional 4,626 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

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.