Brokerages Set Public Storage (NYSE:PSA) Target Price at $317.80

Public Storage (NYSE:PSA) has been given a consensus recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $317.80.

Several equities analysts have recently commented on the stock. Truist Financial dropped their target price on shares of Public Storage from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, November 25th. BNP Paribas Exane decreased their price objective on shares of Public Storage from $329.00 to $315.00 in a research note on Tuesday, December 23rd. Wall Street Zen upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Finally, Evercore ISI decreased their price target on Public Storage from $315.00 to $309.00 and set an “in-line” rating on the stock in a research note on Monday, December 1st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Retirement Planning Co of New England Inc. grew its holdings in shares of Public Storage by 1.6% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock valued at $624,000 after purchasing an additional 33 shares during the last quarter. Whitener Capital Management Inc. boosted its position in Public Storage by 2.3% in the second quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock valued at $472,000 after buying an additional 36 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Public Storage by 9.5% during the second quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock worth $122,000 after buying an additional 36 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its holdings in shares of Public Storage by 3.5% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock worth $317,000 after buying an additional 36 shares in the last quarter. Finally, CoreCap Advisors LLC increased its holdings 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 worth $164,000 after buying an additional 37 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE:PSA opened at $260.69 on Friday. The company has a market cap of $45.74 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 5.58 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. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.45 and a current ratio of 0.45. The stock has a fifty day moving average price of $276.15 and a 200-day moving average price of $284.74.

Public Storage (NYSE:PSA) last issued its quarterly 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 return on equity of 36.09% and a net margin of 39.53%.The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the business earned $4.20 earnings per share. Public Storage’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. As a group, equities analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 4.6%. Public Storage’s dividend payout ratio (DPR) is 124.61%.

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.