Public Storage (NYSE:PSA) Hits New 1-Year Low – Time to Sell?

Public Storage (NYSE:PSA)’s stock price reached a new 52-week low on Friday . The stock traded as low as $256.60 and last traded at $257.9350, with a volume of 67372 shares changing hands. The stock had previously closed at $259.50.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price target for the company in a research note on Monday, October 13th. Morgan Stanley assumed coverage on Public Storage in a research report on Friday, December 5th. They set an “equal weight” rating and a $290.00 price target on the stock. BMO Capital Markets dropped their price objective on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a research note on Monday, December 22nd. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Wells Fargo & Company boosted their target price on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $317.80.

Public Storage Stock Performance

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 stock has a market capitalization of $45.36 billion, a P/E ratio of 26.84, a P/E/G ratio of 5.37 and a beta of 1.01. The business has a fifty day moving average price of $271.31 and a 200-day moving average price of $283.57.

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 analysts’ consensus estimates of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the firm posted $4.20 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, sell-side analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were given a dividend of $3.00 per share. The ex-dividend date was Monday, December 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.6%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Hedge Funds Weigh In On Public Storage

Institutional investors have recently bought and sold shares of the business. Marshall & Sullivan Inc. WA bought a new stake in Public Storage in the second quarter worth $25,000. Harbor Asset Planning Inc. purchased a new stake in shares of Public Storage in the second quarter valued at approximately $25,000. First Pacific Financial bought a new stake in shares of Public Storage in the third quarter valued at about $26,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Public Storage in the 3rd quarter valued at about $27,000. Finally, Asset Dedication LLC lifted its holdings in Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 50 shares during the period. 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.