Public Storage (NYSE:PSA) Receives Average Rating of “Moderate Buy” from Brokerages

Public Storage (NYSE:PSA) has earned an average rating of “Moderate Buy” from the seventeen ratings firms that are covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $317.80.

A number of analysts have weighed in on PSA shares. Scotiabank reduced their target price on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research note on Thursday, August 28th. Evercore ISI lowered their target price on shares of Public Storage from $315.00 to $309.00 and set an “in-line” rating for the company in a research note on Monday, December 1st. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Mizuho decreased their price objective on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $301.00 price objective (down from $316.00) on shares of Public Storage in a research report on Thursday, December 18th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PSA. Compound Planning Inc. lifted its holdings in shares of Public Storage by 11.7% in the 1st quarter. Compound Planning Inc. now owns 994 shares of the real estate investment trust’s stock worth $298,000 after buying an additional 104 shares during the period. Jump Financial LLC bought a new stake in shares of Public Storage in the first quarter valued at about $1,124,000. Freedom Investment Management Inc. lifted its stake in Public Storage by 37.1% in the first quarter. Freedom Investment Management Inc. now owns 1,294 shares of the real estate investment trust’s stock worth $387,000 after acquiring an additional 350 shares during the period. Ieq Capital LLC lifted its stake in Public Storage by 2.7% in the first quarter. Ieq Capital LLC now owns 15,068 shares of the real estate investment trust’s stock worth $4,510,000 after acquiring an additional 397 shares during the period. Finally, CreativeOne Wealth LLC grew its holdings in Public Storage by 7.1% during the 1st quarter. CreativeOne Wealth LLC now owns 726 shares of the real estate investment trust’s stock worth $217,000 after acquiring an additional 48 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Up 1.0%

Shares of NYSE PSA opened at $261.96 on Friday. Public Storage has a 1 year low of $256.60 and a 1 year high of $322.49. The firm has a 50-day simple moving average of $277.09 and a two-hundred day simple moving average of $285.27. The company has a market cap of $45.96 billion, a P/E ratio of 27.20, a PEG ratio of 5.62 and a beta of 1.01. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.45 and a quick ratio of 0.45.

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

Public Storage Announces Dividend

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

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.