Public Storage (NYSE:PSA) Given New $312.00 Price Target at Evercore ISI

Public Storage (NYSE:PSA) had its target price hoisted by Evercore ISI from $309.00 to $312.00 in a report issued on Monday morning, Marketbeat.com reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

PSA has been the topic of a number of other research reports. Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. BNP Paribas Exane assumed coverage on Public Storage in a report on Tuesday, June 24th. They issued an “outperform” rating and a $331.00 price objective on the stock. Barclays lowered their price objective on Public Storage from $351.00 to $349.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. BMO Capital Markets lowered Public Storage from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $340.00 to $325.00 in a report on Friday, June 20th. Finally, Scotiabank reduced their price target on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average price target of $331.85.

Public Storage Price Performance

Shares of PSA opened at $286.32 on Monday. Public Storage has a twelve month low of $256.60 and a twelve month high of $369.99. The stock’s 50 day moving average is $287.29 and its two-hundred day moving average is $293.28. The firm has a market capitalization of $50.23 billion, a PE ratio of 31.22, a P/E/G ratio of 4.85 and a beta of 0.86. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04.

Public Storage (NYSE:PSA) last announced 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. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company earned $4.23 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. Research analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

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 $3.00 dividend. The ex-dividend date is Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.2%. Public Storage’s payout ratio is 130.86%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Marshall & Sullivan Inc. WA acquired a new position in Public Storage in the 2nd quarter valued at $25,000. Harbor Asset Planning Inc. acquired a new position in Public Storage in the 2nd quarter valued at $25,000. Asset Dedication LLC raised its holdings in Public Storage by 111.1% in the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 50 shares during the last quarter. Ameriflex Group Inc. acquired a new position in Public Storage in the 4th quarter valued at $30,000. Finally, Spectrum Wealth Counsel LLC acquired a new position in Public Storage in the 1st quarter valued at $30,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

About Public Storage

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.