Public Storage (NYSE:PSA) Earns Hold (C) Rating from Weiss Ratings

Key Points

• Public Storage has received a "hold (C)" rating from Weiss Ratings while other analysts have varied opinions, with some rating it as "sell" and others as "strong buy".
• The company's stock currently has an average price target of $322.92 and a market capitalization of $51.48 billion.
• Public Storage reported a quarterly earnings per share of $4.28, beating consensus estimates, and has projected earnings guidance for FY 2025 between 16.450-17.00 EPS.

Public Storage (NYSE:PSA - Get Free Report)'s stock had its "hold (c)" rating reissued by equities research analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Public Storage from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. UBS Group cut their price objective on Public Storage from $305.00 to $295.00 and set a "neutral" rating for the company in a report on Tuesday, September 16th. Royal Bank Of Canada cut their price objective on Public Storage from $328.00 to $309.00 and set a "sector perform" rating for the company in a report on Friday, August 1st. Barclays cut their price objective on Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Finally, BNP Paribas raised Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Public Storage presently has an average rating of "Moderate Buy" and an average price target of $322.92.

Public Storage Price Performance

Shares of PSA opened at $293.39 on Wednesday. The stock has a market capitalization of $51.48 billion, a P/E ratio of 31.99, a P/E/G ratio of 4.87 and a beta of 0.89. Public Storage has a twelve month low of $256.60 and a twelve month high of $355.87. The company has a 50 day moving average of $286.88 and a 200-day moving average of $291.46. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 2.04.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping the consensus estimate of $4.23 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business's quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, equities research analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Public Storage

Several hedge funds have recently added to or reduced their stakes in PSA. Marshall & Sullivan Inc. WA acquired a new stake in Public Storage during the 2nd quarter valued at $25,000. Harbor Asset Planning Inc. acquired a new stake in Public Storage during the 2nd quarter valued at $25,000. Asset Dedication LLC lifted its holdings in Public Storage by 111.1% during the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 50 shares during the last quarter. Spectrum Wealth Counsel LLC acquired a new stake in Public Storage during the 1st quarter valued at $30,000. Finally, NewSquare Capital LLC lifted its holdings in shares of Public Storage by 60.6% during the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust's stock worth $31,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

About Public Storage

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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