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

Public Storage (NYSE:PSA) has been given an average rating of “Moderate Buy” by the fourteen research firms that are presently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $340.69.

A number of brokerages have recently weighed in on PSA. Wells Fargo & Company dropped their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Truist Financial boosted their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Barclays lowered their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada lowered their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and boosted their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th.

Public Storage Trading Down 0.7 %

Shares of NYSE PSA opened at $303.46 on Friday. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a fifty day simple moving average of $298.29 and a 200-day simple moving average of $325.09. The stock has a market capitalization of $53.14 billion, a PE ratio of 31.51, a PEG ratio of 4.91 and a beta of 0.74.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.95%. Public Storage’s dividend payout ratio is currently 112.89%.

Insider Activity

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the sale, the insider now directly owns 2,364 shares of the company’s stock, valued at $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.00% of the company’s stock.

Institutional Trading of Public Storage

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSA. Quent Capital LLC raised its stake in Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in Public Storage during the 4th quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in Public Storage during the 4th quarter valued at approximately $32,000. Prospera Private Wealth LLC purchased a new stake in Public Storage during the 3rd quarter valued at approximately $34,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Public Storage during the 3rd quarter worth approximately $38,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Company Profile

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.