Public Storage (NYSE:PSA) Rating Increased to Hold at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Public Storage (NYSE:PSA) to a hold rating in a research note issued to investors on Tuesday morning,Zacks reports.

A number of other equities research analysts also recently issued reports on the stock. Raymond James Financial started coverage on shares of Public Storage in a report on Thursday, July 16th. They issued a “market perform” rating on the stock. Royal Bank Of Canada upped their target price on shares of Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a report on Friday, July 31st. BMO Capital Markets increased their target price on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Evercore set a $316.00 price target on shares of Public Storage in a report on Monday, July 6th. Finally, Jefferies Financial Group boosted their price target on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $327.00.

Public Storage Price Performance

Shares of NYSE PSA opened at $302.23 on Tuesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $335.55. The stock has a market cap of $53.08 billion, a PE ratio of 28.84, a price-to-earnings-growth ratio of 3.62 and a beta of 0.95. The stock has a fifty day moving average of $321.71 and a 200-day moving average of $307.78.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $1.64. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities research analysts anticipate that Public Storage will post 16.93 earnings per share for the current year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.0%. Public Storage’s dividend payout ratio (DPR) is 114.50%.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Public Storage

Hedge funds have recently added to or reduced their stakes in the company. Knights of Columbus Asset Advisors LLC lifted its position in Public Storage by 25.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock worth $4,829,000 after buying an additional 3,763 shares during the last quarter. Hsbc Holdings PLC bought a new position in Public Storage during the second quarter valued at approximately $195,808,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Public Storage by 3.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock worth $75,171,000 after acquiring an additional 9,618 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Public Storage by 5.3% during the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock worth $63,838,000 after acquiring an additional 12,444 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Public Storage by 5.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock worth $118,576,000 after acquiring an additional 25,353 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.