Public Storage (NYSE:PSA) Given Average Rating of “Moderate Buy” by Analysts

Shares of Public Storage (NYSE:PSA) have been given an average recommendation of “Moderate Buy” by the seventeen research firms that are presently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $317.80.

PSA has been the topic of several research reports. UBS Group decreased their price target on shares of Public Storage from $295.00 to $293.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 18th. Raymond James Financial decreased their target price on shares of Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 18th. Truist Financial cut their price target on shares of Public Storage from $320.00 to $315.00 and set a “buy” rating for the company in a research report on Tuesday, November 25th. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research note on Monday, October 13th.

Public Storage Price Performance

PSA opened at $261.96 on Friday. The stock has a 50-day moving average price of $277.09 and a 200-day moving average price of $285.27. Public Storage has a 12-month low of $256.60 and a 12-month high of $322.49. 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 stock has a market capitalization of $45.96 billion, a P/E ratio of 27.20, a PEG ratio of 5.62 and a beta of 1.01.

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

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a $3.00 dividend. The ex-dividend date is Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 4.6%. Public Storage’s payout ratio is presently 124.61%.

Institutional Investors Weigh In On Public Storage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSA. Triumph Capital Management purchased a new stake in Public Storage in the third quarter worth $128,000. Swiss Life Asset Management Ltd grew its position in shares of Public Storage by 16.0% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 34,448 shares of the real estate investment trust’s stock worth $9,950,000 after buying an additional 4,762 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of Public Storage by 8.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 773 shares of the real estate investment trust’s stock worth $223,000 after acquiring an additional 60 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in Public Storage during the 3rd quarter valued at about $18,280,000. Finally, Caerus Investment Advisors LLC purchased a new position in Public Storage during the 3rd quarter valued at about $278,000. 78.79% of the stock is currently owned by 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.