Public Storage (NYSE:PSA) Price Target Raised to $350.00 at Jefferies Financial Group

Public Storage (NYSE:PSA) had its price target hoisted by Jefferies Financial Group from $330.00 to $350.00 in a report issued on Thursday,MarketScreener reports.

Several other research analysts also recently commented on PSA. Royal Bank Of Canada increased their price objective on shares of Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft downgraded Public Storage from a “buy” rating to a “hold” rating and set a $285.00 target price on the stock. in a research report on Tuesday, January 20th. Wolfe Research lowered Public Storage from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Truist Financial raised their price target on Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Finally, Barclays reduced their price objective on Public Storage from $352.00 to $349.00 and set an “overweight” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and an average price target of $309.78.

Public Storage Price Performance

PSA traded up $2.59 during trading on Thursday, reaching $311.92. 101,962 shares of the company traded hands, compared to its average volume of 1,180,302. The company has a market cap of $54.76 billion, a P/E ratio of 32.19, a PEG ratio of 4.22 and a beta of 1.00. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. Public Storage has a 12-month low of $256.54 and a 12-month high of $313.51. The firm has a fifty day simple moving average of $293.68 and a 200 day simple moving average of $284.41.

Public Storage (NYSE:PSA) last issued its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. Public Storage’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities analysts forecast that Public Storage will post 16.89 EPS for the current year.

Public Storage Dividend Announcement

The business also recently disclosed 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. This represents a $12.00 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage’s payout ratio is presently 123.84%.

Institutional Investors Weigh In On Public Storage

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its stake in shares of Public Storage by 13.3% during the 1st 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 bought a new stake in Public Storage in the second quarter worth about $929,000. Nebula Research & Development LLC bought a new stake in Public Storage in the second quarter worth about $1,113,000. Treasurer of the State of North Carolina boosted its position in shares of 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 valued at $21,647,000 after buying an additional 1,390 shares during the period. Finally, Ieq Capital LLC grew its stake in shares of 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 valued at $14,140,000 after buying an additional 33,122 shares during the last quarter. 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.