Public Storage (NYSE:PSA - Get Free Report) has received an average rating of "Moderate Buy" from the fourteen brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $339.08.
PSA has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Public Storage from $327.00 to $374.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Bank of America cut shares of Public Storage from a "buy" rating to a "neutral" rating and set a $318.00 target price for the company. in a research note on Monday, August 5th. Evercore ISI increased their price target on Public Storage from $334.00 to $343.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. Jefferies Financial Group lifted their price objective on Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Finally, Wolfe Research upgraded Public Storage to a "strong-buy" rating in a report on Wednesday, September 4th.
Read Our Latest Report on Public Storage
NYSE:PSA opened at $360.06 on Wednesday. The firm has a market capitalization of $63.02 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 5.02 and a beta of 0.67. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.72. Public Storage has a 12-month low of $233.18 and a 12-month high of $369.99. The firm has a 50-day moving average price of $334.80 and a 200 day moving average price of $299.46.
Public Storage (NYSE:PSA - Get Free Report) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing the consensus estimate of $4.20 by ($1.54). Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The company had revenue of $921.70 million for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the business earned $4.28 EPS. Public Storage's quarterly revenue was down 1.0% compared to the same quarter last year. Research analysts anticipate that Public Storage will post 16.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Friday, September 13th. Public Storage's dividend payout ratio (DPR) is presently 108.99%.
Institutional investors have recently bought and sold shares of the business. Core Wealth Advisors Inc. bought a new position in shares of Public Storage in the 4th quarter worth $30,000. OFI Invest Asset Management bought a new position in Public Storage during the second quarter worth about $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage during the 2nd quarter worth about $36,000. Riverview Trust Co bought a new stake in shares of Public Storage in the 1st quarter valued at about $37,000. Finally, Crewe Advisors LLC acquired a new stake in shares of Public Storage in the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 78.79% of the company's stock.
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.
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