Public Storage’s (PSA) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of Public Storage (NYSE:PSA) in a report released on Thursday morning, Marketbeat Ratings reports. They currently have a $301.00 target price on the real estate investment trust’s stock, down from their previous target price of $316.00.

Several other equities research analysts also recently issued reports on PSA. UBS Group lowered their price target on Public Storage from $295.00 to $293.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. Scotiabank decreased their price objective on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 28th. Evercore ISI dropped their target price on shares of Public Storage from $315.00 to $309.00 and set an “in-line” rating on the stock in a report on Monday, December 1st. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Wells Fargo & Company upped their price target on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $319.87.

Public Storage Trading Down 0.8%

PSA opened at $259.26 on Thursday. The firm’s fifty day moving average is $280.39 and its two-hundred day moving average is $286.30. The firm has a market cap of $45.49 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 5.55 and a beta of 1.01. Public Storage has a twelve month low of $256.60 and a twelve month high of $322.49. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.45 and a current ratio of 0.45.

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

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

Institutional Investors Weigh In On Public Storage

A number of institutional investors and hedge funds have recently made changes to their positions in PSA. Jump Financial LLC acquired a new position in shares of Public Storage in the first quarter valued at $1,124,000. The Manufacturers Life Insurance Company grew its position in shares of Public Storage by 3.0% in the first quarter. The Manufacturers Life Insurance Company now owns 103,972 shares of the real estate investment trust’s stock valued at $31,118,000 after purchasing an additional 2,990 shares during the last quarter. Clear Creek Financial Management LLC bought a new position in shares of Public Storage during the second quarter worth approximately $342,000. Cbre Investment Management Listed Real Assets LLC lifted its holdings in Public Storage by 29.0% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 339,993 shares of the real estate investment trust’s stock worth $101,757,000 after purchasing an additional 76,444 shares during the last quarter. Finally, Diversified Trust Co bought a new stake in Public Storage in the 2nd quarter valued at $418,000. Institutional investors own 78.79% of the company’s stock.

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.