NYSE:PSA

Public Storage (PSA) Stock Forecast, Price & News

$263.15

-7.62 (-2.81%)

(As of 09/21/2023 ET)

Compare

Today's Range: $262.75
▼
$270.24
50-Day Range: $268.73
▼
$301.64
52-Week Range: $262.75
▼
$316.48

Volume: 719,048 shs
Average Volume: 662,437 shs
Market Capitalization: $46.27 billion

P/E Ratio: 11.40
Dividend Yield: 4.56%
Price Target: $314.75

Public Storage MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.60 Rating Score
Upside/Downside: 15.8% Upside
$304.75 Price Target
Short Interest: Bearish
2.67% of Float Sold Short
Dividend Strength: Strong
Based on Four Factors
Sustainability: -0.53
Upright™ Environmental Score
News Sentiment: 0.67
Based on 14 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: 4.36%
From $16.76 to $17.49 Per Share

Overall MarketRank^™

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

2.57 out of 5 stars

Finance Sector

304th out of 817 stocks

Real Estate Investment Trusts Industry

58th out of 173 stocks

2.3

Analyst's Opinion

Consensus Rating
Public Storage has received a consensus rating of Moderate Buy. The company's average rating score is 2.60, and is based on 3 buy ratings, 2 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $304.75, Public Storage has a forecasted upside of 15.8% from its current price of $263.15.
Amount of Analyst Coverage
Public Storage has only been the subject of 3 research reports in the past 90 days.

2.0

Short Interest

Percentage of Shares Shorted
2.67% of the float of Public Storage has been sold short.
Short Interest Ratio / Days to Cover
Public Storage has a short interest ratio ("days to cover") of 5.1.
Change versus previous month

3.3

Dividend Strength

Dividend Leadership
Public Storage is a leading dividend payer. It pays a dividend yield of 4.44%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Public Storage has only been increasing its dividend for 1 years.
Dividend Coverage
The dividend payout ratio of Public Storage is 51.97%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Public Storage will have a dividend payout ratio of 68.61% next year. This indicates that Public Storage will be able to sustain or increase its dividend.

4.1

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Public Storage has received a 58.13% net impact score from Upright. Public Storage seems to create the most significant positive value in categories "Taxes", "Jobs", and "Societal infrastructure". The positive contribution in the "Societal infrastructure" impact category is driven by its "Storage unit leasing services" product. See details.
Environmental Sustainability
The Environmental Impact score for Public Storage is -0.53.

3.2

News and Social Media Coverage

News Sentiment
Public Storage has a news sentiment score of 0.67. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Finance companies.
News Coverage This Week
MarketBeat has tracked 14 news articles for Public Storage this week, compared to 6 articles on an average week.
Search Interest
20 people have searched for PSA on MarketBeat in the last 30 days. This is an increase of 11% compared to the previous 30 days.
MarketBeat Follows
12 people have added Public Storage to their MarketBeat watchlist in the last 30 days. This is an increase of 33% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Public Storage insiders have not sold or bought any company stock.
Percentage Held by Insiders
11.00% of the stock of Public Storage is held by insiders. A high percentage of insider ownership can be a sign of company health.
Percentage Held by Institutions
78.75% of the stock of Public Storage is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9

Earnings and Valuation

Earnings Growth
Earnings for Public Storage are expected to grow by 4.36% in the coming year, from $16.76 to $17.49 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Public Storage is 11.40, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 129.68.
Price to Earnings Ratio vs. Sector
The P/E ratio of Public Storage is 11.40, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 92.58.
Price to Earnings Growth Ratio
Public Storage has a PEG Ratio of 3.37. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Public Storage has a P/B Ratio of 7.93. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Public Storage (NYSE:PSA) Stock

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 Price History

30 days | 90 days | 365 days | Advanced Chart

PSA Stock News Headlines

August 30, 2023 | marketbeat.com

What Are Specialty REITs? How to Invest in Them (PSA)

What are specialty REITs? They are real estate investment trusts that may not fit in with other sectors. Learn more about specialty REITs.

August 28, 2023 | marketbeat.com

REIT Stocks - Best REIT Stocks to Add to Your Portfolio Today (PSA)

A real estate investment trust is a corporation that owns or finances real estate. From an investor’s perspective, it’s essentially a pooled investment vehicle for buying and managing real estate properties. There are private REITs (which could also be called non-listed REITs or a non-traded REIT) but these REIT investments are only available to private or institutional investors.

September 22, 2023 | Chaikin Analytics (Ad)

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September 21, 2023 | marketwatch.com

Public Storage stock falls Thursday, underperforms market

September 19, 2023 | msn.com

3 Elite Dividend Stocks to Buy and Hold for Decades of Income Stability and Growth

September 18, 2023 | americanbankingnews.com

Public Storage (NYSE:PSA) to Post Q2 2024 Earnings of $4.35 Per Share, Zacks Research Forecasts

September 15, 2023 | finance.yahoo.com

Expansion Efforts to Aid Public Storage (PSA) Amid High Rates

September 15, 2023 | benzinga.com

If You Invested $1000 In This Stock 20 Years Ago, You Would Have $7,200 Today

September 22, 2023 | Chaikin Analytics (Ad)

This Stock Could Go Up 66% or More.

Marc Chaikin built the system that isolated NVDA before it became the best-performing stock of 2023. Click here to get his latest buy. More here.

September 15, 2023 | americanbankingnews.com

Public Storage (NYSE:PSA) Given New $340.00 Price Target at Stifel Nicolaus

September 14, 2023 | ca.finance.yahoo.com

Public Storage (PSA-PG)

September 14, 2023 | finance.yahoo.com

Public Storage (PSA) Concludes $2.2B Simply Self Storage Buyout

September 14, 2023 | msn.com

Stifel Maintains Public Storage. (PSA) Buy Recommendation

September 14, 2023 | americanbankingnews.com

KeyCorp Comments on Public Storage's FY2023 Earnings (NYSE:PSA)

September 13, 2023 | finance.yahoo.com

Public Storage Announces Closing of Simply Self Storage Acquisition

September 13, 2023 | americanbankingnews.com

Q3 2023 Earnings Forecast for Public Storage (NYSE:PSA) Issued By KeyCorp

September 12, 2023 | gurufocus.com

Public Storage (PSA): A Deep Dive into Its Dividend Performance and Sustainability

September 11, 2023 | finance.yahoo.com

Developer bullish on self storage in Arizona despite sector's cooldown nationwide

September 11, 2023 | finance.yahoo.com

Zacks Investment Ideas feature highlights: Starbucks, Paycom Software and Public Storage

September 8, 2023 | finance.yahoo.com

Unlocking Long-Term Value: 3 S&P 500 Stocks to Buy Now on the Dip

September 8, 2023 | seekingalpha.com

Public Storage: A Simple Question Of Supply And Demand

September 5, 2023 | finance.yahoo.com

Public Storage Launches Savvy Insurance to Serve the Self-Storage Industry

August 31, 2023 | benzinga.com

$1000 Invested In This Stock 20 Years Ago Would Be Worth $7,300 Today

August 29, 2023 | msn.com

Truist Securities Maintains Public Storage. (PSA) Buy Recommendation

August 25, 2023 | finance.yahoo.com

4 Dividend Stocks Yielding 4% to Buy and Hold for a Potential Lifetime of Income

August 22, 2023 | seekingalpha.com

PSA.PR.R Public Storage 4% DEP PFD SHS R

August 16, 2023 | marketwatch.com

Public Storage stock falls Wednesday, still outperforms market

See More Headlines

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PSA Company Calendar

Last Earnings: 2/21/2023
Ex-Dividend for 6/29 Dividend: 6/13/2023
Dividend Payable: 6/29/2023
Ex-Dividend for 9/28 Dividend: 9/12/2023
Today: 9/22/2023
Dividend Payable: 9/28/2023
Next Earnings (Estimated): 11/07/2023
Fiscal Year End: 12/31/2023

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Real estate investment trusts
Sub-Industry: Specialized REITs
Sector: Finance
Current Symbol: NYSE:PSA
CUSIP: 74460D10
CIK: 1393311
Web: www.publicstorage.com
Phone: (818) 244-8080
Fax: 818-244-9530
Employees: 5,900
Year Founded: 1972

Price Target and Rating

Average Stock Price Forecast: $304.75
High Stock Price Forecast: $340.00
Low Stock Price Forecast: $250.00
Forecasted Upside/Downside: +19.6%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.60
Research Coverage: 5 Analysts

Profitability

EPS (Most Recent Fiscal Year): $23.09
Trailing P/E Ratio: 11.40
Forward P/E Ratio: 15.70
P/E Growth: 3.37
Net Income: $4.35 billion
Net Margins: 95.14%
Pretax Margin: 98.60%
Return on Equity: 70.44%
Return on Assets: 23.31%

Debt

Debt-to-Equity Ratio: 1.19
Current Ratio: 1.28
Quick Ratio: 1.28

Sales & Book Value

Annual Sales: $4.39 billion
Price / Sales: 10.54
Cash Flow: $29.08 per share
Price / Cash Flow: 9.05
Book Value: $33.19 per share
Price / Book: 7.93

Miscellaneous

Outstanding Shares: 175,829,000
Free Float: 156,488,000
Market Cap: $46.27 billion
Optionable: Optionable
Beta: 0.46

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Key Executives

Mr. Joseph D. Russell Jr. (Age 63)
CEO, Pres & Trustee
Comp: $2.16M

Mr. H. Thomas Boyle III (Age 40)
Sr. VP, Chief Investment Officer & CFO
Comp: $1.51M

Ms. Natalia N. Johnson (Age 45)
Sr. VP & Chief Admin. Officer
Comp: $1.08M

Mr. Nathaniel A. Vitan (Age 49)
Sr. VP, Chief Legal Officer & Corp. Sec.
Comp: $885.58k

Kenneth Q. Volk Jr.
Founder

Nicholas J. Kangas
Exec. VP of Fin. & Accounting

Mr. Michael Braine
Chief Technology Officer

Mr. Ryan C. Burke
VP of Investor Relations

Mr. David Collins
Head of Marketing & VP

Nathan A. Tan
Sr. VP of HR

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

PSA Stock - Frequently Asked Questions

Should I buy or sell Public Storage stock right now?: 5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Public Storage in the last twelve months. There are currently 2 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street research 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 forecast for 2023?: 5 Wall Street analysts have issued 1-year price objectives for Public Storage's shares. Their PSA share price forecasts range from $250.00 to $340.00. On average, they anticipate the company's share price to reach $304.75 in the next year. This suggests a possible upside of 15.8% 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 start of the year. Since then, PSA shares have decreased by 6.1% and is now trading at $263.15.
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, November 7th 2023.
View our PSA earnings forecast.
How were Public Storage's earnings last quarter?: Public Storage (NYSE:PSA) posted its earnings results on Tuesday, February, 21st. The real estate investment trust reported $2.06 earnings per share for the quarter, missing the consensus estimate of $3.99 by $1.93. The real estate investment trust earned $1.09 billion during the quarter, compared to analysts' expectations of $1.07 billion. Public Storage had a net margin of 95.14% and a trailing twelve-month return on equity of 70.44%. The business's revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.54 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, August 2nd. Shareholders of record on Wednesday, September 13th will be paid a dividend of $3.00 per share on Thursday, September 28th. This represents a $12.00 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Tuesday, September 12th.
Read our dividend analysis for PSA.
What ETFs hold Public Storage's stock?: ETFs with the largest weight of Public Storage (NYSE:PSA) stock in their portfolio include Pacer Industrial Real Estate ETF (INDS), SP Funds S&P Global REIT Sharia ETF (SPRE), iShares Residential and Multisector Real Estate ETF (REZ), ETFB Green SRI REITs ETF (RITA), ALPS Active REIT ETF (REIT), iShares Cohen & Steers REIT ETF (ICF), iShares US Credit Bond ETF (CRED) and FlexShares Global Quality Real Estate Index Fund (GQRE).
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 4.44%. 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 51.97%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PSA will have a dividend payout ratio of 68.61% 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 Wednesday, August, 2nd. The company provided earnings per share (EPS) guidance of $16.40-$16.80 for the period, compared to the consensus earnings per share estimate of $16.76. 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).
What is Public Storage's stock symbol?: Public Storage trades on the New York Stock Exchange (NYSE) under the ticker symbol "PSA."
Who are Public Storage's major shareholders?: Public Storage's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (8.99%), State Street Corp (6.38%), Capital International Investors (4.27%), Cohen & Steers Inc. (2.30%), Geode Capital Management LLC (2.19%) and Northern Trust Corp (1.28%). Insiders that own company stock include 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.
What is Public Storage's stock price today?: One share of PSA stock can currently be purchased for approximately $263.15.
How much money does Public Storage make?: Public Storage (NYSE:PSA) has a market capitalization of $46.27 billion and generates $4.39 billion in revenue each year. The real estate investment trust earns $4.35 billion in net income (profit) each year or $23.09 on an earnings per share basis.
How many employees does Public Storage have?: The company employs 5,900 workers across the globe.
How can I contact Public Storage?: Public Storage's mailing address is 701 WESTERN AVENUE, GLENDALE CA, 91201. The official website for the company is www.publicstorage.com. The real estate investment trust can be reached via phone at (818) 244-8080, via email at rburke@publicstorage.com, or via fax at 818-244-9530.

This page (NYSE:PSA) was last updated on 9/22/2023 by MarketBeat.com Staff

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