Public Storage (NYSE:PSA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Public Storage (NYSE:PSA) has received an average rating of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $339.08.

PSA has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Public Storage from $327.00 to $374.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a research note on Monday, August 5th. Evercore ISI increased their price target on Public Storage from $334.00 to $343.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Jefferies Financial Group lifted their price objective on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Wolfe Research upgraded Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th.

Public Storage Stock Performance

NYSE:PSA opened at $360.06 on Wednesday. The firm has a market capitalization of $63.02 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 5.02 and a beta of 0.67. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72. Public Storage has a 12-month low of $233.18 and a 12-month high of $369.99. The firm has a 50-day moving average price of $334.80 and a 200 day moving average price of $299.46.

Public Storage (NYSE:PSA) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing the consensus estimate of $4.20 by ($1.54). Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The company had revenue of $921.70 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the business earned $4.28 EPS. Public Storage’s quarterly revenue was down 1.0% compared to the same quarter last year. Research analysts anticipate that Public Storage will post 16.75 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Friday, September 13th. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.

Institutional Trading of Public Storage

Institutional investors have recently bought and sold shares of the business. Core Wealth Advisors Inc. bought a new position in shares of Public Storage in the 4th quarter worth $30,000. OFI Invest Asset Management bought a new position in Public Storage during the second quarter worth about $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage during the 2nd quarter worth about $36,000. Riverview Trust Co bought a new stake in shares of Public Storage in the 1st quarter valued at about $37,000. Finally, Crewe Advisors LLC acquired a new stake in shares of Public Storage in the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

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.