Public Storage (NYSE:PSA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Public Storage (NYSE:PSA) have received an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat reports. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $317.80.

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets cut their target price on Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a research report on Monday, December 22nd. Raymond James Financial dropped their price target on 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. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. BNP Paribas Exane decreased their target price on shares of Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. Finally, UBS Group dropped their target price on shares of Public Storage from $295.00 to $293.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 18th.

Public Storage Trading Down 0.7%

Shares of NYSE:PSA opened at $259.43 on Friday. 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 market capitalization of $45.52 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 5.56 and a beta of 1.01. Public Storage has a 1-year low of $256.60 and a 1-year high of $322.49. The company has a 50 day moving average price of $272.19 and a 200 day moving average price of $283.89.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the prior year, the company earned $4.20 earnings per share. 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, research analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

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

Institutional Trading of Public Storage

A number of hedge funds have recently modified their holdings of PSA. Retirement Planning Co of New England Inc. boosted its position in shares of Public Storage by 1.6% in the first quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock worth $624,000 after buying an additional 33 shares during the period. Whitener Capital Management Inc. raised its position in Public Storage by 2.3% during 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 during the period. Rosenberg Matthew Hamilton lifted its stake in Public Storage by 9.5% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 36 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its position 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 period. Finally, CoreCap Advisors LLC grew its stake in Public Storage by 7.0% during the 3rd 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 in the last quarter. Hedge funds and other 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.