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

Public Storage (NYSE:PSA) has been assigned an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $317.80.

Several brokerages have issued reports on PSA. Royal Bank Of Canada lowered their price target on Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a report on Friday, October 31st. Truist Financial lowered their target price on Public Storage from $320.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, November 25th. Morgan Stanley started coverage on shares of Public Storage in a report on Friday, December 5th. They set an “equal weight” rating and a $290.00 target price on the stock. Evercore ISI reduced their price target on shares of Public Storage from $315.00 to $309.00 and set an “in-line” rating for the company in a report on Monday, December 1st. Finally, Wells Fargo & Company raised their price objective on shares of Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 27th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Public Storage by 10.8% in the 3rd quarter. Vanguard Group Inc. now owns 23,068,701 shares of the real estate investment trust’s stock valued at $6,663,394,000 after acquiring an additional 2,253,225 shares in the last quarter. State Street Corp raised its holdings in shares of Public Storage by 1.2% in the second quarter. State Street Corp now owns 10,613,807 shares of the real estate investment trust’s stock valued at $3,114,303,000 after purchasing an additional 126,113 shares during the last quarter. Norges Bank bought a new stake in shares of Public Storage in the second quarter worth $1,153,971,000. JPMorgan Chase & Co. boosted its holdings in Public Storage by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 3,334,488 shares of the real estate investment trust’s stock worth $963,177,000 after purchasing an additional 177,421 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Public Storage by 3.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,924,395 shares of the real estate investment trust’s stock valued at $857,674,000 after purchasing an additional 87,918 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Up 0.7%

PSA opened at $261.26 on Friday. The firm’s fifty day moving average is $274.16 and its two-hundred day moving average is $284.24. The firm has a market cap of $45.84 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 5.56 and a beta of 1.01. Public Storage has a twelve month low of $256.60 and a twelve month 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.

Public Storage (NYSE:PSA) last announced 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. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities research analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, December 15th. Public Storage’s dividend payout ratio is 124.61%.

About Public Storage

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.