Public Storage (NYSE:PSA) Receives Average Rating of “Moderate Buy” from Brokerages

Public Storage (NYSE:PSA) has earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $317.80.

Several research firms recently issued reports on PSA. UBS Group reduced their price target on shares of Public Storage from $295.00 to $293.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th. Evercore ISI dropped their price objective on shares of Public Storage from $315.00 to $309.00 and set an “in-line” rating on the stock in a research note on Monday, December 1st. BNP Paribas Exane decreased their target price on shares of Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $301.00 target price (down previously from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Finally, Wells Fargo & Company raised their price target on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 27th.

Institutional Investors Weigh In On Public Storage

A number of institutional investors and hedge funds have recently bought and sold shares of PSA. Vanguard Group Inc. grew its stake in shares of Public Storage by 10.8% in the 3rd quarter. Vanguard Group Inc. now owns 23,068,701 shares of the real estate investment trust’s stock worth $6,663,394,000 after acquiring an additional 2,253,225 shares in the last quarter. State Street Corp boosted its holdings in Public Storage by 1.2% during the second quarter. State Street Corp now owns 10,613,807 shares of the real estate investment trust’s stock worth $3,114,303,000 after purchasing an additional 126,113 shares during the last quarter. Norges Bank purchased a new position in Public Storage during the second quarter worth about $1,153,971,000. JPMorgan Chase & Co. grew its position in Public Storage by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,334,488 shares of the real estate investment trust’s stock worth $963,177,000 after purchasing an additional 177,421 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Public Storage by 3.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,924,395 shares of the real estate investment trust’s stock valued at $857,674,000 after buying an additional 87,918 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Performance

Shares of Public Storage stock opened at $261.26 on Friday. The business has a 50-day simple moving average of $274.16 and a 200 day simple moving average of $284.24. Public Storage has a one year low of $256.60 and a one year high of $322.49. 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 firm has a market capitalization of $45.84 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 5.56 and a beta of 1.01.

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

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors 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 4.6%. Public Storage’s payout ratio is presently 124.61%.

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.