Public Storage (NYSE:PSA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Public Storage (NYSE:PSA) has received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $335.4286.

Several equities research analysts have recently weighed in on the company. Mizuho increased their price target on Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a research note on Wednesday, May 28th. Evercore ISI upped their target price on Public Storage from $308.00 to $309.00 and gave the company an “in-line” rating in a report on Monday, August 4th. Scotiabank increased their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a research report on Monday, May 12th. BMO Capital Markets downgraded shares of Public Storage from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. Finally, Royal Bank Of Canada reduced their price objective on shares of Public Storage from $328.00 to $309.00 and set a “sector perform” rating on the stock in a research note on Friday, August 1st.

Public Storage Price Performance

Shares of NYSE:PSA opened at $291.42 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99. The firm has a market cap of $51.13 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 4.80 and a beta of 0.86. The firm’s fifty day moving average is $287.58 and its 200-day moving average is $294.28.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.23 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.Public Storage’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.23 earnings per share. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Sell-side analysts predict that Public Storage will post 16.7 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, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Monday, September 15th. Public Storage’s dividend payout ratio (DPR) is presently 130.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PSA. Norges Bank acquired a new stake in Public Storage during the second quarter worth approximately $1,153,971,000. Nuveen LLC acquired a new position in Public Storage in the first quarter valued at approximately $271,196,000. Northern Trust Corp boosted its holdings in shares of Public Storage by 43.4% during the 4th quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust’s stock worth $741,592,000 after buying an additional 749,913 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Public Storage by 34,827.1% during the 1st quarter. GAMMA Investing LLC now owns 524,955 shares of the real estate investment trust’s stock worth $157,114,000 after buying an additional 523,452 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Public Storage by 498.7% during the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after buying an additional 481,872 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.