Public Storage (NYSE:PSA) Hits New 12-Month High on Analyst Upgrade

Public Storage (NYSE:PSA)’s share price reached a new 52-week high during trading on Tuesday after Evercore raised their price target on the stock from $306.00 to $317.00. The company traded as high as $316.95 and last traded at $318.5620, with a volume of 34058 shares traded. The stock had previously closed at $311.08.

A number of other analysts have also recently issued reports on PSA. BMO Capital Markets reissued a “market perform” rating on shares of Public Storage in a report on Monday, March 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a research report on Tuesday, April 21st. Mizuho raised their price objective on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. reduced their price objective on shares of Public Storage from $295.00 to $291.00 and set a “neutral” rating for the company in a research note on Monday, March 23rd. Finally, BNP Paribas Exane upped their target price on shares of Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $316.67.

Institutional Investors Weigh In On Public Storage

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage in the 3rd quarter worth $27,000. Bayban purchased a new stake in shares of Public Storage during the 4th quarter valued at $26,000. Raiffeisen Bank International AG bought a new stake in shares of Public Storage during the 3rd quarter worth $30,000. Wealth Watch Advisors INC purchased a new position in Public Storage in the third quarter worth $34,000. Finally, Knuff & Co LLC purchased a new position in Public Storage in the fourth quarter worth $38,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Up 3.1%

The firm has a market cap of $56.28 billion, a P/E ratio of 33.09, a PEG ratio of 4.22 and a beta of 0.98. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a 50 day moving average of $298.94 and a 200 day moving average of $287.29.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the company posted $4.12 earnings per share. The company’s revenue was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities research analysts predict that Public Storage will post 16.92 EPS for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $3.00 dividend. The ex-dividend date is Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. Public Storage’s payout ratio is presently 123.84%.

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.