Analysts Set Public Storage (NYSE:PSA) PT at $315.56

Public Storage (NYSE:PSA) has earned an average rating of “Moderate Buy” from the seventeen ratings firms that are covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $313.1875.

A number of research firms have weighed in on PSA. Royal Bank Of Canada reduced their target price on Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target on the stock. in a report on Tuesday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $301.00 price objective (down previously from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Morgan Stanley assumed coverage on shares of Public Storage in a research report on Friday, December 5th. They issued an “equal weight” rating and a $290.00 price objective for the company. Finally, Evercore ISI reduced their target price on shares of Public Storage from $309.00 to $305.00 in a research report on Monday, January 12th.

Institutional Investors Weigh In On Public Storage

Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Public Storage during the second quarter valued at $1,153,971,000. Vanguard Group Inc. grew its holdings in Public Storage by 10.8% during the 3rd quarter. Vanguard Group Inc. now owns 23,068,701 shares of the real estate investment trust’s stock worth $6,663,394,000 after acquiring an additional 2,253,225 shares in the last quarter. AQR Capital Management LLC increased its position in Public Storage by 498.7% during the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after purchasing an additional 481,872 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Public Storage during the 2nd quarter valued at about $94,297,000. Finally, Centersquare Investment Management LLC raised its holdings in shares of Public Storage by 38.0% in the 3rd quarter. Centersquare Investment Management LLC now owns 1,145,607 shares of the real estate investment trust’s stock valued at $330,909,000 after purchasing an additional 315,370 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Down 1.4%

Shares of NYSE PSA opened at $282.44 on Tuesday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.45 and a quick ratio of 0.45. The company has a market cap of $49.56 billion, a P/E ratio of 29.33, a PEG ratio of 7.33 and a beta of 1.01. Public Storage has a 1 year low of $256.54 and a 1 year high of $322.49. The firm has a 50-day simple moving average of $271.59 and a two-hundred day simple moving average of $282.34.

Public Storage (NYSE:PSA) last released its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. Public Storage had a return on equity of 36.09% and a net margin of 39.53%.The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the prior year, the firm posted $4.20 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Research analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.2%. The ex-dividend date was Monday, December 15th. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

About Public Storage

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.