Public Storage (NYSE:PSA) Receives $339.25 Consensus Target Price from Analysts

Shares of Public Storage (NYSE:PSA) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $339.25.

Several equities research analysts recently issued reports on the company. Mizuho boosted their price objective on Public Storage from $287.00 to $309.00 and gave the company a “neutral” rating in a report on Wednesday, May 28th. Barclays cut their price objective on Public Storage from $354.00 to $351.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Scotiabank boosted their price objective on Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a report on Monday, May 12th. Wells Fargo & Company cut their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Truist Financial upgraded Public Storage from a “hold” rating to a “buy” rating and set a $310.00 price target on the stock in a report on Thursday, April 10th.

Public Storage Price Performance

NYSE:PSA opened at $300.10 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $52.65 billion, a P/E ratio of 31.16, a P/E/G ratio of 4.91 and a beta of 0.89. Public Storage has a 52 week low of $256.60 and a 52 week high of $369.99. The stock’s fifty day moving average is $296.11 and its two-hundred day moving average is $301.90.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.06 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a return on equity of 34.07% and a net margin of 40.54%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.03 EPS. Equities analysts expect that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Thursday, June 12th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.00%. Public Storage’s payout ratio is currently 119.17%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quent Capital LLC increased its holdings in shares of Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Ameriflex Group Inc. purchased a new position in shares of Public Storage in the 4th quarter valued at about $30,000. Spectrum Wealth Counsel LLC acquired a new stake in shares of Public Storage in the 1st quarter valued at about $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Public Storage in the 4th quarter valued at about $32,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Public Storage in the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.