Public Storage (NYSE:PSA) Price Target Raised to $347.00

Public Storage (NYSE:PSA) had its price objective lifted by Barclays from $331.00 to $347.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other research firms have also recently issued reports on PSA. Truist Financial lifted their target price on Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Wells Fargo & Company cut shares of Public Storage from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $330.00 to $295.00 in a report on Thursday, February 5th. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price target on the stock. in a research note on Thursday, February 5th. JPMorgan Chase & Co. reaffirmed 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. Finally, BNP Paribas Exane lowered their price objective on shares of Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, Public Storage presently has an average rating of “Hold” and a consensus target price of $307.13.

Public Storage Trading Up 0.4%

Shares of PSA opened at $308.28 on Thursday. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75. Public Storage has a 52-week low of $256.54 and a 52-week high of $322.49. The firm has a market cap of $54.11 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 6.24 and a beta of 0.99. The business’s fifty day moving average is $286.93 and its 200-day moving average is $284.38.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, March 16th. Public Storage’s payout ratio is 133.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PSA. Patrick M Sweeney & Associates Inc. grew its holdings in Public Storage by 3.5% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock worth $317,000 after acquiring an additional 36 shares during the last quarter. CoreCap Advisors LLC raised its stake in shares of Public Storage by 7.0% during the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock valued at $164,000 after acquiring an additional 37 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Public Storage by 1.7% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 37 shares during the period. Raiffeisen Bank International AG lifted its holdings in shares of Public Storage by 35.2% during the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 37 shares during the period. Finally, KCM Investment Advisors LLC grew its stake in shares of Public Storage by 2.9% in the second quarter. KCM Investment Advisors LLC now owns 1,349 shares of the real estate investment trust’s stock worth $396,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds 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.