Public Storage (NYSE:PSA) Receives Average Recommendation of “Hold” from Analysts

Public Storage (NYSE:PSA) has received a consensus rating of “Hold” from the twenty-one brokerages that are covering the firm, MarketBeat Ratings reports. Fourteen equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $325.11.

A number of equities research analysts have recently issued reports on PSA shares. Mizuho upped their price objective on Public Storage from $316.00 to $319.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. Barclays raised their target price on shares of Public Storage from $350.00 to $351.00 and gave the company an “equal weight” rating in a research note on Thursday, September 10th. Royal Bank Of Canada boosted their target price on shares of Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. Scotiabank dropped their price target on shares of Public Storage from $346.00 to $343.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, September 2nd. Finally, Citigroup upped their price target on shares of Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th.

Public Storage Price Performance

NYSE:PSA opened at $284.48 on Friday. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55. The company has a market cap of $49.96 billion, a P/E ratio of 27.14, a P/E/G ratio of 4.24 and a beta of 0.94. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. The stock’s 50-day simple moving average is $309.16 and its 200 day simple moving average is $306.17.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, beating the consensus estimate of $2.53 by $1.64. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, sell-side analysts forecast that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.2%. Public Storage’s payout ratio is currently 114.50%.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Public Storage

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Public Storage in the second quarter valued at about $5,495,077,000. Norges Bank bought a new stake in shares of Public Storage during the 4th quarter worth about $1,163,751,000. Capital International Investors grew its stake in Public Storage by 821.4% in the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after buying an additional 3,686,211 shares during the last quarter. Legal & General Group Plc acquired a new position in Public Storage in the 2nd quarter valued at about $601,650,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Public Storage in the 2nd quarter valued at about $558,904,000. Institutional investors own 78.79% of the company’s stock.

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 seeking space for household belongings, vehicles, inventory, records and other personal or commercial items.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States. Its facilities serve customers across numerous U.S. states and typically offer a range of unit sizes, electronic access, online reservations and payment services.