Public Storage (NYSE:PSA) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Public Storage (NYSE: PSA) has received a consensus rating of "Moderate Buy" from fifteen analysts, with a target price of approximately $322.92.
• The company reported $4.28 earnings per share for the last quarter, surpassing estimates by $0.05, and experienced a 2.4% revenue increase year-over-year.
• Public Storage declared a quarterly dividend of $3.00, resulting in an annual yield of 4.1%, despite a payout ratio of 130.86%.

Shares of Public Storage (NYSE:PSA - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $322.9231.

A number of brokerages recently weighed in on PSA. Royal Bank Of Canada lowered their target price on shares of Public Storage from $328.00 to $309.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. UBS Group lowered their target price on shares of Public Storage from $305.00 to $295.00 and set a "neutral" rating for the company in a research note on Tuesday, September 16th. Barclays lowered their target price on shares of Public Storage from $351.00 to $349.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Wells Fargo & Company decreased their price target on shares of Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Finally, BNP Paribas raised shares of Public Storage to a "strong-buy" rating in a research note on Tuesday, June 24th.

Public Storage Price Performance

Shares of NYSE PSA opened at $294.19 on Friday. Public Storage has a twelve month low of $256.60 and a twelve month high of $355.87. The firm has a fifty day simple moving average of $287.61 and a 200 day simple moving average of $291.49. The company has a market capitalization of $51.62 billion, a PE ratio of 32.08, a P/E/G ratio of 4.88 and a beta of 0.89. 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 announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 earnings per share for the quarter, topping analysts' consensus estimates of $4.23 by $0.05. Public Storage had a net margin of 38.13% and a return on equity of 34.06%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm earned $4.23 earnings per share. Public Storage's quarterly revenue was up 2.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. On average, sell-side analysts forecast that Public Storage will post 16.7 EPS for the current year.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, September 15th. Public Storage's payout ratio is 130.86%.

Institutional Investors Weigh In On Public Storage

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Public Storage during the second quarter valued at about $1,153,971,000. Nuveen LLC acquired a new position in shares of Public Storage during the first quarter valued at about $271,196,000. AQR Capital Management LLC grew its holdings in shares of Public Storage by 498.7% during the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust's stock valued at $166,970,000 after buying an additional 481,872 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Public Storage by 68.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,164,992 shares of the real estate investment trust's stock valued at $348,670,000 after buying an additional 475,342 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Public Storage during the second quarter valued at about $94,297,000. 78.79% of the stock is owned by institutional investors.

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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