Public Storage (NYSE:PSA) Price Target Raised to $338.00 at JPMorgan Chase & Co.

Public Storage (NYSE:PSA) had its price objective increased by JPMorgan Chase & Co. from $291.00 to $338.00 in a report published on Thursday,MarketScreener reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

PSA has been the topic of several other research reports. BMO Capital Markets reissued a “market perform” rating on shares of Public Storage in a report on Monday, March 16th. Mizuho raised their target price on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Evercore lifted their price target on shares of Public Storage from $306.00 to $317.00 in a report on Monday. Barclays dropped their price objective on shares of Public Storage from $352.00 to $349.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. Finally, Royal Bank Of Canada raised their price objective on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $319.28.

Public Storage Price Performance

Shares of Public Storage stock traded up $2.72 during trading hours on Thursday, hitting $327.43. The company’s stock had a trading volume of 176,324 shares, compared to its average volume of 1,123,680. The company has a market cap of $57.48 billion, a PE ratio of 33.75, a PEG ratio of 4.41 and a beta of 0.98. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. The business has a 50 day moving average price of $302.35 and a two-hundred day moving average price of $288.50. Public Storage has a 12-month low of $256.54 and a 12-month high of $331.79.

Public Storage (NYSE:PSA) last issued its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company earned $4.12 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Analysts expect that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $3.00 per share. The ex-dividend date is Monday, June 15th. This represents a $12.00 annualized dividend and a yield of 3.7%. Public Storage’s dividend payout ratio (DPR) is 123.84%.

Institutional Trading of Public Storage

A number of large investors have recently made changes to their positions in PSA. Empowered Funds LLC raised its position in Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after purchasing an additional 373 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Public Storage in the 2nd quarter worth approximately $929,000. Nebula Research & Development LLC purchased a new position in shares of Public Storage in the 2nd quarter worth approximately $1,113,000. Treasurer of the State of North Carolina increased its position in shares of Public Storage by 1.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock valued at $21,647,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Ieq Capital LLC raised its holdings in Public Storage by 219.8% during the 2nd quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock valued at $14,140,000 after buying an additional 33,122 shares during the period. 78.79% of the stock is currently owned by institutional investors.

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.