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S&P 500   4,585.59
DOW   36,117.38
QQQ   390.43
Forward dividend yield: What it is and how to use it 
An Unusual Way to Invest in Gold (Ad)
What are consumer staples stocks?
Healthcare sector: Overview and keys to investing
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New CBOE “special perk” helps traders target income every weekend (Ad)
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Consumer staples vs. consumer discretionary
S&P 500   4,585.59
DOW   36,117.38
QQQ   390.43
Forward dividend yield: What it is and how to use it 
An Unusual Way to Invest in Gold (Ad)
What are consumer staples stocks?
Healthcare sector: Overview and keys to investing
New CBOE “special perk” helps traders target income every weekend (Ad)
Is Amazon a blue chip stock?
How to find penny stocks to invest and trade 
New CBOE “special perk” helps traders target income every weekend (Ad)
How to invest in GTE technology: A guide 
Consumer staples vs. consumer discretionary
S&P 500   4,585.59
DOW   36,117.38
QQQ   390.43
Forward dividend yield: What it is and how to use it 
An Unusual Way to Invest in Gold (Ad)
What are consumer staples stocks?
Healthcare sector: Overview and keys to investing
New CBOE “special perk” helps traders target income every weekend (Ad)
Is Amazon a blue chip stock?
How to find penny stocks to invest and trade 
New CBOE “special perk” helps traders target income every weekend (Ad)
How to invest in GTE technology: A guide 
Consumer staples vs. consumer discretionary

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

$273.09
+3.43 (+1.27%)
(As of 12/7/2023 ET)
Compare
Today's Range
$269.05
$274.56
50-Day Range
$237.99
$275.90
52-Week Range
$233.18
$316.48
Volume
983,846 shs
Average Volume
951,987 shs
Market Capitalization
$48.02 billion
P/E Ratio
25.03
Dividend Yield
4.39%
Price Target
$295.71

Public Storage MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.63 Rating Score
Upside/​Downside
8.3% 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
0.65mentions of Public Storage in the last 14 days
Based on 12 Articles This Week
Insider Trading
Selling Shares
$1.39 M Sold Last Quarter
Proj. Earnings Growth
1.73%
From $16.78 to $17.07 Per Share

Overall MarketRank

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

2.72 out of 5 stars

Finance Sector

80th out of 694 stocks

Real Estate Investment Trusts Industry

12th out of 144 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

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Public Storage: Back In The Buy Zone
Public Storage Declares Fourth Quarter 2023 Dividends
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
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
12/07/2023
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
+8.3%
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
$4.45 billion
Cash Flow
$30.68 per share
Book Value
$33.19 per share

Miscellaneous

Free Float
156,670,000
Market Cap
$48.02 billion
Optionable
Optionable
Beta
0.52

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Should I Buy Public Storage Stock? PSA Pros and Cons Explained

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Public Storage was last updated on Tuesday, November 28, 2023 at 9:23 AM.

Pros

Here are some ways that investors could benefit from investing in Public Storage:

  • Public Storage is a member of the S&P 500 and FT Global 500, indicating its strong presence in the market.
  • As a real estate investment trust (REIT), Public Storage primarily acquires, develops, owns, and operates self-storage facilities, which can provide a stable and consistent source of rental income.
  • With approximately 15 million net rentable square feet operated under the Shurgard brand, Public Storage has a significant market share in the self-storage industry.
  • Public Storage's headquarters are located in Glendale, California, which is a strategic location for managing its operations and expanding its business.
  • Public Storage's description and insights are regularly updated, ensuring that investors have access to the latest information and trends in the company.

Cons

Investors should be bearish about investing in Public Storage for these reasons:

  • It is important to consider the current stock price of Public Storage before making an investment decision.














PSA Stock Analysis - Frequently Asked Questions

Should I buy or sell Public Storage stock right now?

8 Wall Street research 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 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 target for 2024?

8 Wall Street research analysts have issued 1 year target prices for Public Storage's shares. Their PSA share price targets range from $250.00 to $340.00. On average, they predict the company's stock price to reach $295.71 in the next twelve months. This suggests a possible upside of 8.3% 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 2.5% and is now trading at $273.09.
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) posted its quarterly earnings results on Monday, October, 30th. The real estate investment trust reported $3.20 EPS for the quarter, missing the consensus estimate of $4.21 by $1.01. The real estate investment trust earned $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Public Storage had a trailing twelve-month return on equity of 34.76% and a net margin of 45.46%. The firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business 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. Investors of record on Wednesday, December 13th will be paid a dividend of $3.00 per share on Thursday, December 28th. This represents a $12.00 annualized dividend and a yield of 4.39%. 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 4.51%. 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 70.30% 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 EPS 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 number of institutional and retail investors. Top institutional shareholders include Wellington Management Group LLP (2.41%), JPMorgan Chase & Co. (1.80%), Charles Schwab Investment Management Inc. (1.41%), Northern Trust Corp (1.31%), Legal & General Group Plc (1.31%) and Morgan Stanley (0.96%). 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 12/8/2023 by MarketBeat.com Staff

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