Public Storage (NYSE:PSA) Price Target Raised to $345.00

Public Storage (NYSE:PSA) had its price target hoisted by Scotiabank from $342.00 to $345.00 in a research report report published on Wednesday, MarketBeat Ratings reports. Scotiabank currently has a sector outperform rating on the real estate investment trust’s stock.

PSA has been the topic of several other research reports. Royal Bank Of Canada boosted their price target on Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. BMO Capital Markets raised their price objective on Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a research note on Monday, June 15th. Citigroup lifted their price objective on Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. JPMorgan Chase & Co. boosted their target price on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Finally, Jefferies Financial Group upped their target price on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $325.37.

Public Storage Stock Performance

NYSE:PSA opened at $320.59 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $331.79. The stock has a market cap of $56.28 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 4.29 and a beta of 0.96. The firm’s fifty day simple moving average is $312.92 and its 200-day simple moving average is $295.87.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Analysts expect that Public Storage will post 16.94 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, June 15th. Public Storage’s dividend payout ratio (DPR) is currently 123.84%.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares in the company, valued at $459,281.34. The trade was a 40.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.10% of the stock is owned by corporate insiders.

Institutional Trading of Public Storage

A number of hedge funds have recently bought and sold shares of PSA. Empowered Funds LLC boosted its holdings in shares of Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after purchasing an additional 373 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Public Storage in the second quarter valued at $929,000. Nebula Research & Development LLC acquired a new position in Public Storage in the second quarter valued at $1,113,000. Treasurer of the State of North Carolina lifted its position in Public Storage by 1.9% during 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 lifted its position in Public Storage by 219.8% during 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. Institutional investors and hedge funds own 78.79% of the company’s stock.

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.