KeyCorp Has Pessimistic View of Public Storage Q1 Earnings

Public Storage (NYSE:PSA) – KeyCorp reduced their Q1 2025 earnings estimates for shares of Public Storage in a research report issued to clients and investors on Wednesday, March 5th. KeyCorp analyst T. Thomas now forecasts that the real estate investment trust will earn $4.11 per share for the quarter, down from their prior estimate of $4.25. The consensus estimate for Public Storage’s current full-year earnings is $16.70 per share. KeyCorp also issued estimates for Public Storage’s Q2 2025 earnings at $4.24 EPS, Q3 2025 earnings at $4.24 EPS, Q4 2025 earnings at $4.21 EPS, FY2025 earnings at $16.80 EPS, Q1 2026 earnings at $4.19 EPS, Q2 2026 earnings at $4.40 EPS, Q3 2026 earnings at $4.44 EPS, Q4 2026 earnings at $4.42 EPS and FY2026 earnings at $17.45 EPS.

A number of other research firms also recently weighed in on PSA. Royal Bank of Canada decreased their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and increased their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Scotiabank cut their price target on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a report on Wednesday. Truist Financial increased their price target on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Finally, Barclays cut their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $340.23.

Public Storage Stock Performance

NYSE:PSA opened at $313.99 on Friday. The company has a market capitalization of $55.08 billion, a PE ratio of 32.61, a P/E/G ratio of 4.91 and a beta of 0.73. The company has a 50 day simple moving average of $299.31 and a two-hundred day simple moving average of $324.77. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99.

Hedge Funds Weigh In On Public Storage

Several large investors have recently bought and sold shares of PSA. Norges Bank bought a new position in Public Storage during the 4th quarter valued at $931,286,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Public Storage by 732.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock valued at $561,763,000 after purchasing an additional 1,358,493 shares during the last quarter. Adelante Capital Management LLC increased its position in shares of Public Storage by 389.9% during the 3rd quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust’s stock valued at $532,465,000 after purchasing an additional 1,164,630 shares during the last quarter. FMR LLC increased its position in shares of Public Storage by 20.9% during the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock valued at $1,828,763,000 after purchasing an additional 869,066 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Public Storage by 43.4% during the 4th quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust’s stock valued at $741,592,000 after purchasing an additional 749,913 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.00% of the stock is owned by company insiders.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio is currently 112.89%.

About Public Storage

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.