Public Storage (NYSE:PSA) Price Target Raised to $319.00

Public Storage (NYSE:PSA) had its price objective upped by Mizuho from $316.00 to $319.00 in a research report released on Wednesday, Marketbeat reports. They currently have a neutral rating on the real estate investment trust’s stock.

Several other research firms have also recently commented on PSA. Scotiabank upped their target price on shares of Public Storage from $345.00 to $346.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Royal Bank Of Canada boosted their price objective on shares of Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Barclays upped their price objective on shares of Public Storage from $349.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 19th. Citigroup increased their target price on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company set a $311.00 target price on Public Storage in a research report on Tuesday. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $327.00.

Public Storage Price Performance

Shares of NYSE:PSA opened at $301.83 on Wednesday. The company has a market cap of $53.01 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 4.16 and a beta of 0.95. The business has a 50 day moving average price of $320.62 and a 200 day moving average price of $307.81. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping the consensus estimate of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business posted $4.28 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Research analysts predict that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s payout ratio is 114.50%.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 11.10% of the company’s stock.

Institutional Trading of Public Storage

Hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC grew its holdings in shares of Public Storage by 2.2% during the first quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock worth $419,000 after purchasing an additional 34 shares during the last quarter. Nilsine Partners LLC raised its holdings in Public Storage by 2.9% during the 2nd quarter. Nilsine Partners LLC now owns 1,211 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 34 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in Public Storage by 2.6% during the 1st quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 36 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its position in Public Storage by 1.7% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 37 shares during the period. Finally, Raiffeisen Bank International AG boosted its stake in shares of Public Storage by 35.2% in the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

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.