Public Storage (NYSE:PSA) Stock Has Consensus Price Target of $323.42

Shares of Public Storage (NYSE:PSA) have received a consensus rating of “Hold” from the twenty-one analysts that are covering the company, MarketBeat.com reports. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $323.42.

A number of brokerages have recently issued reports on PSA. Scotiabank decreased their target price on Public Storage from $346.00 to $343.00 and set a “sector outperform” rating for the company in a report on Wednesday, September 2nd. Truist Financial initiated coverage on shares of Public Storage in a report on Friday, October 2nd. They issued a “buy” rating and a $317.00 price target on the stock. Barclays raised their price target on shares of Public Storage from $350.00 to $351.00 and gave the company an “equal weight” rating in a report on Thursday, September 10th. UBS Group reduced their price target on shares of Public Storage from $326.00 to $294.00 and set a “neutral” rating on the stock in a research report on Friday, October 16th. Finally, Mizuho boosted their price objective on shares of Public Storage from $316.00 to $319.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd.

Public Storage Stock Performance

NYSE:PSA opened at $310.19 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The company has a market cap of $54.48 billion, a P/E ratio of 29.60, a P/E/G ratio of 4.63 and a beta of 0.94. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $335.55. The firm’s 50 day moving average is $299.38 and its two-hundred day moving average is $308.19.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $1.64. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the business earned $4.28 EPS. Public Storage’s revenue for the quarter was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Analysts expect that Public Storage will post 16.93 EPS for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is currently 114.50%.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Institutional Trading of Public Storage

Several large investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new position in Public Storage during the 2nd quarter worth approximately $195,808,000. Nykredit A S purchased a new position in Public Storage in the 2nd quarter worth approximately $17,378,000. PensionDanmark Pensionsforsikringsaktieselskab grew its position in Public Storage by 15.6% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 26,610 shares of the real estate investment trust’s stock valued at $8,470,000 after acquiring an additional 3,588 shares in the last quarter. Greenland Capital Management LP grew its position in Public Storage by 300.0% in the second quarter. Greenland Capital Management LP now owns 6,600 shares of the real estate investment trust’s stock valued at $2,101,000 after acquiring an additional 4,950 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in Public Storage by 25.3% in the second quarter. Benjamin Edwards Inc. now owns 16,577 shares of the real estate investment trust’s stock valued at $5,277,000 after acquiring an additional 3,343 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.