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

Public Storage (NYSE:PSA) has earned a consensus rating of “Moderate Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $342.07.

A number of brokerages recently commented on PSA. Evercore ISI lowered their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Truist Financial boosted their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Barclays reduced their price objective on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Morgan Stanley boosted their target price on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada decreased their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th.

Public Storage Stock Down 1.0 %

NYSE PSA opened at $295.30 on Friday. The stock has a market capitalization of $51.71 billion, a P/E ratio of 30.66, a price-to-earnings-growth ratio of 5.29 and a beta of 0.74. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a fifty day moving average of $321.79 and a 200-day moving average of $325.17.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Friday, December 13th. Public Storage’s payout ratio is presently 124.61%.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the transaction, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.00% of the company’s stock.

Institutional Trading of Public Storage

Hedge funds have recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in Public Storage during the 3rd quarter worth $34,000. Ashton Thomas Securities LLC bought a new position in shares of Public Storage in the third quarter worth $38,000. Compagnie Lombard Odier SCmA acquired a new position in Public Storage in the third quarter valued at about $50,000. Harbor Capital Advisors Inc. acquired a new stake in Public Storage during the third quarter worth about $55,000. Finally, Versant Capital Management Inc increased its holdings in Public Storage by 301.7% in the 4th quarter. Versant Capital Management Inc now owns 237 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 178 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

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.