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

Shares of Public Storage (NYSE:PSA) have received an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $342.07.

Several equities analysts have issued reports on the stock. Barclays cut their price target on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley upped their target price on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Wolfe Research raised Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Royal Bank of Canada cut their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Finally, Evercore ISI lowered their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th.

Institutional Investors Weigh In On Public Storage

Several hedge funds have recently bought and sold shares of PSA. Prospera Private Wealth LLC acquired a new position in shares of Public Storage in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new position in Public Storage in the third quarter valued at $38,000. EdgeRock Capital LLC acquired a new position in shares of Public Storage in the second quarter worth about $39,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Public Storage during the 3rd quarter worth about $50,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Public Storage during the 3rd quarter valued at about $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 1.0 %

Shares of Public Storage stock opened at $317.62 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market cap of $55.62 billion, a P/E ratio of 32.98, a PEG ratio of 5.29 and a beta of 0.71. The firm’s 50 day moving average price is $337.34 and its 200-day moving average price is $323.21. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.78%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

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.