Public Storage (NYSE:PSA) Receives $305.00 Average Target Price from Analysts

Shares of Public Storage (NYSE:PSA) have been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $305.00.

PSA has been the topic of several recent research reports. Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $280.00 to $310.00 in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Public Storage in a report on Tuesday, January 30th. They issued a “sell” rating and a $250.00 price target on the stock. BMO Capital Markets raised their price target on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. The Goldman Sachs Group raised their price target on shares of Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a report on Thursday, March 28th.

Institutional Trading of Public Storage

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its stake in Public Storage by 107.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 44 shares during the period. Core Wealth Advisors Inc. acquired a new stake in Public Storage during the 4th quarter valued at approximately $30,000. EdgeRock Capital LLC acquired a new stake in Public Storage during the 4th quarter valued at approximately $32,000. Private Ocean LLC lifted its stake in Public Storage by 5,450.0% during the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 109 shares during the period. Finally, Centerpoint Advisors LLC acquired a new stake in Public Storage during the 4th quarter valued at approximately $35,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Up 1.5 %

Shares of Public Storage stock opened at $273.32 on Friday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.54. Public Storage has a 1 year low of $233.18 and a 1 year high of $312.25. The firm’s 50-day moving average is $276.12 and its two-hundred day moving average is $276.24. The stock has a market cap of $48.02 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 3.49 and a beta of 0.57.

Public Storage (NYSE:PSA) last issued its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($1.94). Public Storage had a return on equity of 36.17% and a net margin of 45.62%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the company earned $4.16 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. As a group, research analysts expect that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.39%. The ex-dividend date was Tuesday, March 12th. Public Storage’s payout ratio is currently 108.99%.

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.