Public Storage (NYSE:PSA) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Public Storage (NYSE:PSA) has received a consensus recommendation of “Moderate Buy” among 15 brokerages, with an average price target of $329.21.
• The company reported $4.28 EPS for its last quarter, exceeding estimates, while its annual dividend of $3.00 per share signifies a yield of 4.2%.
• Recent stock analysis shows mixed ratings, with BMO Capital Markets downgrading the stock while BNP Paribas upgraded it to a “strong-buy” rating.

Public Storage (NYSE:PSA - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $329.2143.

A number of brokerages have commented on PSA. BMO Capital Markets downgraded Public Storage from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $340.00 to $325.00 in a research note on Friday, June 20th. Barclays dropped their target price on Public Storage from $351.00 to $349.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. UBS Group reduced their price target on shares of Public Storage from $305.00 to $295.00 and set a "neutral" rating for the company in a report on Tuesday. Wall Street Zen lowered shares of Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Finally, BNP Paribas upgraded shares of Public Storage to a "strong-buy" rating in a research report on Tuesday, June 24th.

Public Storage Stock Performance

Public Storage stock opened at $284.84 on Wednesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The company has a fifty day moving average price of $287.16 and a two-hundred day moving average price of $293.22. The company has a market cap of $49.98 billion, a PE ratio of 31.06, a P/E/G ratio of 4.76 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $1.20 billion. During the same period in the previous year, the business posted $4.23 EPS. The company'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. Research analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $12.00 annualized dividend and a yield of 4.2%. Public Storage's payout ratio is presently 130.86%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PSA. State of Wyoming raised its stake in shares of Public Storage by 28.6% during the fourth quarter. State of Wyoming now owns 256 shares of the real estate investment trust's stock valued at $77,000 after purchasing an additional 57 shares in the last quarter. Twinbeech Capital LP acquired a new position in Public Storage during the 4th quarter valued at about $17,231,000. Zimmer Partners LP bought a new stake in shares of Public Storage during the 4th quarter worth about $6,258,000. Waverly Advisors LLC raised its position in shares of Public Storage by 1.1% during the 4th quarter. Waverly Advisors LLC now owns 32,410 shares of the real estate investment trust's stock worth $9,705,000 after buying an additional 353 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its stake in shares of Public Storage by 20.7% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 22,475 shares of the real estate investment trust's stock worth $6,730,000 after acquiring an additional 3,854 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

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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