BNP Paribas Exane Cuts Public Storage (NYSE:PSA) Price Target to $315.00

Public Storage (NYSE:PSA) had its price objective trimmed by BNP Paribas Exane from $329.00 to $315.00 in a report published on Tuesday morning,MarketScreener reports.

Several other research firms have also recently commented on PSA. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a research report on Monday, October 13th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $301.00 price target (down from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Truist Financial cut their price objective on shares of Public Storage from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Mizuho decreased their target price on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Finally, Raymond James Financial lowered their target price on shares of Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $317.80.

Public Storage Trading Up 1.0%

Shares of NYSE:PSA opened at $261.96 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99. The company’s 50-day moving average price is $277.09 and its 200 day moving average price is $285.27. The company has a market cap of $45.96 billion, a PE ratio of 27.20, a P/E/G ratio of 5.62 and a beta of 1.01. Public Storage has a fifty-two week low of $256.60 and a fifty-two week high of $322.49.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping the consensus estimate 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 net margin of 39.53% and a return on equity of 36.09%. Public Storage’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Sell-side analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s payout ratio is presently 124.61%.

Hedge Funds Weigh In On Public Storage

Several large investors have recently made changes to their positions in the business. Triumph Capital Management bought a new stake in shares of Public Storage in the 3rd quarter worth approximately $128,000. Swiss Life Asset Management Ltd increased its holdings in shares of Public Storage by 16.0% in the third quarter. Swiss Life Asset Management Ltd now owns 34,448 shares of the real estate investment trust’s stock valued at $9,950,000 after buying an additional 4,762 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Public Storage by 8.4% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 773 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 60 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Public Storage during the 3rd quarter worth $18,280,000. Finally, Caerus Investment Advisors LLC acquired a new position in shares of Public Storage in the 3rd quarter worth $278,000. Institutional investors own 78.79% of the company’s stock.

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.