Public Storage (NYSE:PSA) Price Target Lowered to $361.00 at Barclays

Public Storage (NYSE:PSA) had its target price cut by Barclays from $380.00 to $361.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada lowered their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Jefferies Financial Group increased their target price on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their target price for the stock from $298.00 to $299.00 in a report on Friday. Wells Fargo & Company reduced their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Morgan Stanley raised their price objective on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $344.54.

Public Storage Trading Up 0.3 %

PSA opened at $290.00 on Monday. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The firm has a market cap of $50.78 billion, a PE ratio of 30.11, a price-to-earnings-growth ratio of 5.29 and a beta of 0.74. 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 firm’s fifty day moving average is $320.23 and its two-hundred day moving average is $325.68.

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 4.14%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage’s payout ratio is 124.61%.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 11.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Public Storage

Institutional investors and hedge funds have recently modified their holdings of the company. Forza Wealth Management LLC increased its position in Public Storage by 7.6% during the fourth quarter. Forza Wealth Management LLC now owns 750 shares of the real estate investment trust’s stock worth $225,000 after buying an additional 53 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in shares of Public Storage by 25.4% during the 4th quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock worth $8,566,000 after acquiring an additional 5,793 shares during the period. Czech National Bank increased its holdings in shares of Public Storage by 6.5% during the 4th quarter. Czech National Bank now owns 34,170 shares of the real estate investment trust’s stock worth $10,232,000 after acquiring an additional 2,083 shares during the last quarter. Graypoint LLC raised its stake in Public Storage by 7.5% in the 4th quarter. Graypoint LLC now owns 747 shares of the real estate investment trust’s stock valued at $224,000 after acquiring an additional 52 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in Public Storage by 70.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 255 shares of the real estate investment trust’s stock valued at $76,000 after purchasing an additional 105 shares during the last quarter. 78.79% of the stock is owned by 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.