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

Shares of Public Storage (NYSE:PSA) have earned a consensus recommendation of “Hold” from the twenty-one ratings firms that are covering the stock, Marketbeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $323.5263.

A number of brokerages recently commented on PSA. Royal Bank Of Canada increased their price target on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Barclays decreased their price objective on Public Storage from $352.00 to $349.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Citigroup raised their price objective on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research note on Tuesday. Mizuho raised their price objective on Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Finally, Scotiabank raised their price objective on Public Storage from $340.00 to $342.00 and gave the company a “sector outperform” rating in a research note on Thursday.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares of the company’s stock, valued at $459,281.34. This trade represents a 40.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Public Storage

Several institutional investors have recently modified their holdings of PSA. Empowered Funds LLC lifted its stake in shares of Public Storage by 13.3% in the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after purchasing an additional 373 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Public Storage in the 2nd quarter valued at approximately $929,000. Nebula Research & Development LLC purchased a new stake in shares of Public Storage in the second quarter worth approximately $1,113,000. Treasurer of the State of North Carolina raised its holdings in shares of Public Storage by 1.9% in the second quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock worth $21,647,000 after buying an additional 1,390 shares during the period. Finally, Ieq Capital LLC raised its holdings in shares of Public Storage by 219.8% in the second quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock worth $14,140,000 after buying an additional 33,122 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Price Performance

Shares of Public Storage stock opened at $318.13 on Friday. The stock has a 50 day moving average of $306.32 and a 200 day moving average of $290.14. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79. The firm has a market cap of $55.85 billion, a PE ratio of 32.83, a PEG ratio of 4.26 and a beta of 0.98. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company earned $4.12 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, research analysts expect that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage’s dividend payout ratio (DPR) is presently 123.84%.

About Public Storage

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.