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S&P 500   4,554.89
DOW   35,416.98
QQQ   390.19
Alibaba is down more than 10% since earnings, now what?
[Investor Alert] Potential Breakthrough Medical Tech Investment Opportunity (Ad)
5 stocks for the Christmas wishlist: Hoping for a pullback
Lemonade nears breakout, short interest surges, analysts bearish
An Unusual Way to Invest in Gold (Ad)
ULTA stock is setting up to swing for the fences
Charlie Munger, who helped Warren Buffett build investment powerhouse Berkshire Hathaway, dies at 99
An Unusual Way to Invest in Gold (Ad)
This is a buy-the-dip opportunity in Zscaler
US gas prices have fallen or remained steady for 10 weeks straight. Here's why
S&P 500   4,554.89
DOW   35,416.98
QQQ   390.19
Alibaba is down more than 10% since earnings, now what?
[Investor Alert] Potential Breakthrough Medical Tech Investment Opportunity (Ad)
5 stocks for the Christmas wishlist: Hoping for a pullback
Lemonade nears breakout, short interest surges, analysts bearish
An Unusual Way to Invest in Gold (Ad)
ULTA stock is setting up to swing for the fences
Charlie Munger, who helped Warren Buffett build investment powerhouse Berkshire Hathaway, dies at 99
An Unusual Way to Invest in Gold (Ad)
This is a buy-the-dip opportunity in Zscaler
US gas prices have fallen or remained steady for 10 weeks straight. Here's why
S&P 500   4,554.89
DOW   35,416.98
QQQ   390.19
Alibaba is down more than 10% since earnings, now what?
[Investor Alert] Potential Breakthrough Medical Tech Investment Opportunity (Ad)
5 stocks for the Christmas wishlist: Hoping for a pullback
Lemonade nears breakout, short interest surges, analysts bearish
An Unusual Way to Invest in Gold (Ad)
ULTA stock is setting up to swing for the fences
Charlie Munger, who helped Warren Buffett build investment powerhouse Berkshire Hathaway, dies at 99
An Unusual Way to Invest in Gold (Ad)
This is a buy-the-dip opportunity in Zscaler
US gas prices have fallen or remained steady for 10 weeks straight. Here's why

Public Storage Stock Price, News & Analysis (NYSE:PSA)

$256.66
+0.04 (+0.02%)
(As of 11/28/2023 ET)
Compare
Today's Range
$253.98
$257.26
50-Day Range
$237.99
$275.90
52-Week Range
$233.18
$316.48
Volume
984,628 shs
Average Volume
1.01 million shs
Market Capitalization
$45.13 billion
P/E Ratio
23.53
Dividend Yield
4.68%
Price Target
$295.71

Public Storage MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.63 Rating Score
Upside/​Downside
15.2% Upside
$295.71 Price Target
Short Interest
Healthy
2.95% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.53
Upright™ Environmental Score
News Sentiment
0.83mentions of Public Storage in the last 14 days
Based on 9 Articles This Week
Insider Trading
Selling Shares
$1.39 M Sold Last Quarter
Proj. Earnings Growth
2.21%
From $16.78 to $17.15 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.09 out of 5 stars

Finance Sector

36th out of 860 stocks

Real Estate Investment Trusts Industry

5th out of 180 stocks


PSA stock logo

About Public Storage Stock (NYSE:PSA)

Public Storage is a REIT focused on acquiring, developing, owning, and operating self-storage facilities in the US and Europe. The company is a member of the S&P 500 and the FT Global 500 and is the world’s 4th largest REIT by market cap. Along with its holdings of self-storage facilities, the company owns a 42% stake in business park company PS Business Parks and is also in business selling packing and storage supplies. The company is headquartered in Glendale California.

The company was founded in 1972 by B. Wayne Hughes and Kenneth Polk who used the leverage of investments from RELPs to grow the business. The original plan was to use the storage warehouses as a means of generating income until the properties were more valuable. The surprise is that demand for storage space was high and led to unexpected profitability.

The company has more than 1,000 locations by 1989 and then, in 1995, it transformed itself into a publicly traded REIT. The transformation was spurred by tax changes that made RELPs obsolete. The transformation was done via a merger with Storage Equities which gave up its name in favor of Public Storage. The company grew again with the acquisition of Shurgard in 2006 but it has since been spun off as its own publicly traded company. Public Storage retains 36% ownership in Shurgard.

As of September 2022, the company owned and operated 2,807 self-storage facilities in 39 states. The total area of rental space exceeded 2 million square feet serving nearly 2 million customers and generating close to $3.5 billion in annual revenues. Shurgard lays claim to another 239 facilities in the EU which amounts to another 13 minion square feet of storage space. PS Business Parks, Inc, which trades under the ticker (NYSE: PSB) owns and operates 28 million square feet of commercial space.

Advantages of Public Storage include scale, leverage, and the balance sheet. The company’s size and scale mean that more than half the US population lives within driving distance of a Public Storage facility. The company gives leverage through its three-pronged acquisition, development, and redevelopment strategy which are all supported by the balance sheet. The company’s balance sheet is set up for growth and is able to self-fund most new projects.

PSA Stock Price History

PSA Stock News Headlines

[Investor Alert] Potential Breakthrough Medical Tech Investment Opportunity
Autonomix has patented technology that can detect and target nerve signals at an accuracy never seen before, a $100B opportunity. Now the team with almost $600M in exits is planning to list Autonomix on the Nasdaq. And you can invest in Autonomix ahead of their intended Nasdaq listing.* *Disclosure: This is a paid advertisement for Autonomix’s Regulation A+ Offering. Please read the offering circular at invest.autonomix.com
Public Storage: Back In The Buy Zone
Public Storage Declares Fourth Quarter 2023 Dividends
[Investor Alert] Potential Breakthrough Medical Tech Investment Opportunity
Autonomix has patented technology that can detect and target nerve signals at an accuracy never seen before, a $100B opportunity. Now the team with almost $600M in exits is planning to list Autonomix on the Nasdaq. And you can invest in Autonomix ahead of their intended Nasdaq listing.* *Disclosure: This is a paid advertisement for Autonomix’s Regulation A+ Offering. Please read the offering circular at invest.autonomix.com
Q3 2023 Public Storage Earnings Call
Public Storage Q3 Profit Down
The Public Storage (PSA) Company: A Short SWOT Analysis
Public Storage (PSA) Tops Q3 FFO and Revenue Estimates
Employment News Scheduled on Both Sides of Border Next Week
PSA.PR.Q Public Storage 3.950% DEP PFD Q
The Latest Analyst Ratings for Public Storage
See More Headlines
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Company Calendar

Ex-Dividend for 9/28 Dividend
9/12/2023
Dividend Payable
9/28/2023
Last Earnings
10/30/2023
Today
11/28/2023
Ex-Dividend for 12/28 Dividend
12/12/2023
Dividend Payable
12/28/2023
Fiscal Year End
12/31/2023
Next Earnings (Estimated)
2/20/2024

Industry, Sector and Symbol

Industry
Real estate investment trusts
Sub-Industry
Specialized REITs
Sector
Finance
CUSIP
74460D10
Employees
5,900
Year Founded
1972

Price Target and Rating

Average Stock Price Target
$295.71
High Stock Price Target
$340.00
Low Stock Price Target
$250.00
Potential Upside/Downside
+15.2%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.63
Research Coverage
8 Analysts

Profitability

Net Income
$4.35 billion
Pretax Margin
49.98%

Debt

Sales & Book Value

Annual Sales
$4.18 billion
Cash Flow
$30.09 per share
Book Value
$33.19 per share

Miscellaneous

Free Float
156,670,000
Market Cap
$45.13 billion
Optionable
Optionable
Beta
0.50

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PSA Stock Analysis - Frequently Asked Questions

Should I buy or sell Public Storage stock right now?

8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Public Storage in the last twelve months. There are currently 3 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" PSA shares.
View PSA analyst ratings
or view top-rated stocks.

What is Public Storage's stock price target for 2024?

8 brokerages have issued 12 month price targets for Public Storage's stock. Their PSA share price targets range from $250.00 to $340.00. On average, they expect the company's stock price to reach $295.71 in the next year. This suggests a possible upside of 15.2% from the stock's current price.
View analysts price targets for PSA
or view top-rated stocks among Wall Street analysts.

How have PSA shares performed in 2023?

Public Storage's stock was trading at $280.19 at the beginning of the year. Since then, PSA stock has decreased by 8.4% and is now trading at $256.66.
View the best growth stocks for 2023 here
.

When is Public Storage's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 20th 2024.
View our PSA earnings forecast
.

How were Public Storage's earnings last quarter?

Public Storage (NYSE:PSA) announced its earnings results on Monday, October, 30th. The real estate investment trust reported $3.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.21 by $1.01. The real estate investment trust had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a trailing twelve-month return on equity of 34.76% and a net margin of 45.46%. Public Storage's revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.13 EPS.
Read the conference call transcript
.

How often does Public Storage pay dividends? What is the dividend yield for Public Storage?

Public Storage declared a quarterly dividend on Wednesday, November 8th. Stockholders of record on Wednesday, December 13th will be given a dividend of $3.00 per share on Thursday, December 28th. This represents a $12.00 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Tuesday, December 12th.
Read our dividend analysis for PSA
.

Is Public Storage a good dividend stock?

Public Storage (NYSE:PSA) pays an annual dividend of $12.00 per share and currently has a dividend yield of 4.71%. PSA has a dividend yield higher than 75% of all dividend-paying stocks, making it a leading dividend payer. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 109.99%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, PSA will have a dividend payout ratio of 69.97% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PSA.

What guidance has Public Storage issued on next quarter's earnings?

Public Storage updated its FY 2023 earnings guidance on Monday, October, 30th. The company provided earnings per share guidance of $16.60-$16.85 for the period, compared to the consensus estimate of $16.70. The company issued revenue guidance of -.

What is Ronald L. Havner Jr.'s approval rating as Public Storage's CEO?

736 employees have rated Public Storage Chief Executive Officer Ronald L. Havner Jr. on Glassdoor.com. Ronald L. Havner Jr. has an approval rating of 66% among the company's employees.

What other stocks do shareholders of Public Storage own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Public Storage investors own include AT&T (T), Verizon Communications (VZ), Cisco Systems (CSCO), Johnson & Johnson (JNJ), Intel (INTC), Pfizer (PFE), Procter & Gamble (PG), Walmart (WMT), Ford Motor (F) and Walt Disney (DIS).

Who are Public Storage's major shareholders?

Public Storage's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include JPMorgan Chase & Co. (1.80%), Charles Schwab Investment Management Inc. (1.41%), Northern Trust Corp (1.31%), Legal & General Group Plc (1.31%), Morgan Stanley (0.96%) and Bank of New York Mellon Corp (0.79%). Insiders that own company stock include Avedick Baruyr Poladian, Heisz Leslie Stone, John Reyes, Joseph D Russell Jr, Nathaniel A Vitan, Nathaniel A Vitan, Rebecca L Owen and Tamara Hughes Gustavson.
View institutional ownership trends
.

How do I buy shares of Public Storage?

Shares of PSA stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

This page (NYSE:PSA) was last updated on 11/29/2023 by MarketBeat.com Staff

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