Brokerages Set Public Storage (NYSE:PSA) Target Price at $323.53

Shares of Public Storage (NYSE:PSA) have been assigned a consensus rating of “Hold” from the twenty-one ratings firms that are covering the stock, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $324.6842.

PSA has been the topic of several recent research reports. Scotiabank boosted their price target on shares of Public Storage from $340.00 to $342.00 and gave the company a “sector outperform” rating in a research report on Thursday, June 18th. Jefferies Financial Group boosted their price objective on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. Barclays reduced their price objective on shares of Public Storage from $352.00 to $349.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. The Goldman Sachs Group restated a “buy” rating and issued a $341.00 price objective on shares of Public Storage in a report on Wednesday, April 29th. Finally, Evercore boosted their price objective on shares of Public Storage from $317.00 to $318.00 in a report on Tuesday.

Public Storage News Roundup

Here are the key news stories impacting Public Storage this week:

• Positive Sentiment: Public Storage announced it will acquire Public Storage Canada in a roughly $1.2 billion deal, giving it entry into major Canadian self-storage markets and adding 68 properties with room for occupancy and operating improvements. Public Storage to Acquire Public Storage Canada in Strategic Entry into Major Canadian Markets
• Positive Sentiment: Several writeups framed the Canada acquisition as a potentially attractive long-term growth driver, citing consolidation in self-storage, a high-5% going-in NOI yield, and possible efficiency gains. Can Public Storage’s $1.2B Canada Acquisition Drive Long-Term Growth?
• Positive Sentiment: Evercore raised its price target on Public Storage slightly to $318 from $317, signaling continued analyst confidence in the stock’s near-term valuation. MarketScreener
• Neutral Sentiment: One report said Public Storage Canada could be sold for about C$1.67 billion, which appears consistent with the company’s announced transaction value but does not add much new information for investors. Public Storage Canada to be sold for $1.67B
• Neutral Sentiment: Analyst commentary on Public Storage and peer Kite Realty Group was published, but the available details did not indicate a major change in outlook beyond general sector monitoring. Analysts Offer Insights on Real Estate Companies: Public Storage (PSA) and Kite Realty Group (KRG)

Public Storage Trading Up 0.4%

Shares of PSA stock opened at $321.37 on Friday. The company’s 50-day moving average price is $307.97 and its 200-day moving average price is $291.10. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The stock has a market cap of $56.42 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 4.31 and a beta of 0.98. Public Storage has a twelve month low of $256.54 and a twelve month high of $331.79.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.29. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities analysts predict that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $3.00 per share. The ex-dividend date is Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a yield of 3.7%. Public Storage’s dividend payout ratio is 123.84%.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the sale, the insider directly owned 1,414 shares in the company, valued at $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 11.10% of the stock is owned by company insiders.

Institutional Trading of Public Storage

A number of institutional investors and hedge funds have recently bought and sold shares of PSA. Empowered Funds LLC increased its stake in Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after purchasing an additional 373 shares during the period. Sivia Capital Partners LLC purchased a new stake in Public Storage during the second quarter worth about $929,000. Nebula Research & Development LLC purchased a new stake in Public Storage during the second quarter worth about $1,113,000. Treasurer of the State of North Carolina increased its stake in Public Storage by 1.9% during the second quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock worth $21,647,000 after purchasing an additional 1,390 shares during the period. Finally, Ieq Capital LLC increased its stake in Public Storage by 219.8% during the second quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock worth $14,140,000 after purchasing an additional 33,122 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

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.