Public Storage (NYSE:PSA) Receives Consensus Rating of “Moderate Buy” from Analysts

Public Storage (NYSE:PSA) has been given an average recommendation of “Moderate Buy” by the sixteen research firms that are currently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $325.2143.

A number of brokerages have issued reports on PSA. JPMorgan Chase & Co. cut their price target on Public Storage from $321.00 to $316.00 and set an “overweight” rating for the company in a research note on Wednesday, November 19th. Raymond James Financial dropped their price objective on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 18th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a report on Wednesday, October 8th. Finally, BMO Capital Markets dropped their price target on Public Storage from $325.00 to $320.00 and set a “market perform” rating for the company in a research note on Monday, November 24th.

Public Storage Price Performance

NYSE PSA opened at $274.71 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. Public Storage has a 12 month low of $256.60 and a 12 month high of $352.66. The stock has a market cap of $48.20 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 4.72 and a beta of 0.91. The company’s 50 day moving average is $285.94 and its two-hundred day moving average is $289.69.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. The business 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 35.67%. The company’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, research analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Institutional Trading of Public Storage

Several hedge funds have recently bought and sold shares of PSA. Retirement Planning Co of New England Inc. increased its stake in shares of Public Storage by 1.6% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock valued at $624,000 after acquiring an additional 33 shares during the last quarter. Whitener Capital Management Inc. boosted its position in shares of Public Storage by 2.3% in the second quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust’s stock worth $472,000 after acquiring an additional 36 shares during the last quarter. Rosenberg Matthew Hamilton grew its holdings in Public Storage by 9.5% in the second quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 36 shares during the period. Patrick M Sweeney & Associates Inc. grew its holdings in Public Storage by 3.5% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock valued at $317,000 after purchasing an additional 36 shares during the period. Finally, CoreCap Advisors LLC increased its position in Public Storage by 7.0% during the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 37 shares during the last quarter. 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.