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

Shares of Public Storage (NYSE:PSA) have received an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $315.5625.

PSA has been the topic of several analyst reports. UBS Group cut their price target on Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $301.00 price target (down from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective on the stock in a research report on Monday, October 13th. Finally, Wall Street Zen lowered shares of Public Storage from a “hold” rating to a “sell” rating in a report on Saturday, January 10th.

Public Storage Stock Performance

PSA opened at $294.29 on Tuesday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. Public Storage has a 12-month low of $256.54 and a 12-month high of $322.49. The firm has a 50 day moving average of $270.74 and a two-hundred day moving average of $282.46. The firm has a market capitalization of $51.64 billion, a PE ratio of 30.56, a P/E/G ratio of 7.16 and a beta of 1.01.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share 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 firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the business earned $4.20 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.1%. Public Storage’s dividend payout ratio (DPR) is 124.61%.

Institutional Trading of Public Storage

Institutional investors have recently bought and sold shares of the business. Vanderbilt University increased its holdings in Public Storage by 103.1% in the third quarter. Vanderbilt University now owns 9,112 shares of the real estate investment trust’s stock valued at $2,632,000 after buying an additional 4,626 shares during the last quarter. Clear Creek Financial Management LLC acquired a new position in shares of Public Storage during the 2nd quarter worth about $342,000. Carnegie Investment Counsel increased its holdings in shares of Public Storage by 23.0% in the 3rd quarter. Carnegie Investment Counsel now owns 112,769 shares of the real estate investment trust’s stock valued at $32,573,000 after acquiring an additional 21,073 shares during the last quarter. Diversified Trust Co acquired a new stake in shares of Public Storage during the 2nd quarter worth about $418,000. Finally, Baird Financial Group Inc. raised its position in shares of Public Storage by 24.3% during the 2nd quarter. Baird Financial Group Inc. now owns 25,424 shares of the real estate investment trust’s stock worth $7,460,000 after acquiring an additional 4,975 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

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.