Public Storage (NYSE:PSA) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Public Storage (NYSE:PSA) from a hold rating to a sell rating in a report issued on Saturday.

PSA has been the subject of several other reports. Morgan Stanley began 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 for the company. Royal Bank Of Canada reduced their price objective on Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Wells Fargo & Company lifted their price objective on Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Finally, Mizuho reduced their price target on Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $316.67.

Public Storage Stock Performance

Shares of Public Storage stock opened at $278.18 on Friday. Public Storage has a 12 month low of $256.54 and a 12 month high of $322.49. The firm has a market capitalization of $48.81 billion, a P/E ratio of 28.89, a P/E/G ratio of 5.82 and a beta of 1.01. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. The business has a fifty day simple moving average of $269.29 and a two-hundred day simple moving average of $282.76.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the business earned $4.20 EPS. Public Storage’s quarterly revenue was down 5.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, equities analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders 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 dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Marshall & Sullivan Inc. WA purchased a new stake in Public Storage during the 2nd quarter valued at $25,000. Harbor Asset Planning Inc. bought a new stake in shares of Public Storage in the second quarter worth $25,000. First Pacific Financial purchased a new stake in Public Storage during the third quarter valued at $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage in the third quarter valued at about $27,000. Finally, Asset Dedication LLC lifted its holdings in Public Storage by 111.1% in the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 50 shares during the period. Institutional investors own 78.79% of the company’s stock.

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.