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

Shares of Public Storage (NYSE:PSA - Get Free Report) have received a consensus rating of "Moderate Buy" from the sixteen ratings firms that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $337.64.

A number of analysts have recently commented on PSA shares. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a research report on Thursday, April 10th. Scotiabank boosted their price target on Public Storage from $305.00 to $340.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Barclays dropped their price target on Public Storage from $354.00 to $351.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Evercore ISI boosted their price objective on Public Storage from $297.00 to $309.00 and gave the stock an "in-line" rating in a research note on Friday, May 2nd. Finally, Mizuho boosted their price objective on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th.

Institutional Trading of Public Storage

A number of large investors have recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new position in Public Storage during the fourth quarter worth $30,000. Spectrum Wealth Counsel LLC acquired a new position in Public Storage in the first quarter valued at $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Public Storage in the fourth quarter valued at $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Public Storage during the first quarter worth about $36,000. Finally, Millstone Evans Group LLC acquired a new position in shares of Public Storage during the fourth quarter worth about $38,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Down 0.3%

Shares of NYSE:PSA opened at $296.27 on Friday. Public Storage has a 12-month low of $256.60 and a 12-month high of $369.99. The business's fifty day simple moving average is $298.80 and its 200-day simple moving average is $297.25. The company has a market capitalization of $51.97 billion, a PE ratio of 29.42, a P/E/G ratio of 4.30 and a beta of 0.86. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77.

Public Storage (NYSE:PSA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share for the quarter, topping the consensus estimate of $4.06 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. The company's quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $4.03 earnings per share. As a group, equities research analysts predict that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Thursday, June 12th were given a $3.00 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.05%. Public Storage's dividend payout ratio (DPR) is presently 119.17%.

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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