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3 Compelling Reasons to Start Buying Undervalued Amazon
Advisor to FBI: Sell META now (Ad)
Stock market today: World shares are mixed, Chinese markets surge, after latest retreat on Wall St
Analysts Recommend These Mining Stocks Before Metal Prices Rally
The single greatest medical breakthrough of all time? (Ad)
5 Sizzling Tech Companies on the Brink of Bullish Reversals
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The single greatest medical breakthrough of all time? (Ad)
Turkey’s central bank hikes interest rates again in further shift in economic policies
The average long-term US mortgage rate edged up to 7.19% this week, slightly below its 2023 high
S&P 500   4,330.00
DOW   34,070.42
QQQ   357.86
3 Compelling Reasons to Start Buying Undervalued Amazon
Advisor to FBI: Sell META now (Ad)
Stock market today: World shares are mixed, Chinese markets surge, after latest retreat on Wall St
Analysts Recommend These Mining Stocks Before Metal Prices Rally
The single greatest medical breakthrough of all time? (Ad)
5 Sizzling Tech Companies on the Brink of Bullish Reversals
FedEx, Greenbrier rise; Cisco Systems, KB Home fall, Thursday, 9/21/2023
The single greatest medical breakthrough of all time? (Ad)
Turkey’s central bank hikes interest rates again in further shift in economic policies
The average long-term US mortgage rate edged up to 7.19% this week, slightly below its 2023 high
S&P 500   4,330.00
DOW   34,070.42
QQQ   357.86
3 Compelling Reasons to Start Buying Undervalued Amazon
Advisor to FBI: Sell META now (Ad)
Stock market today: World shares are mixed, Chinese markets surge, after latest retreat on Wall St
Analysts Recommend These Mining Stocks Before Metal Prices Rally
The single greatest medical breakthrough of all time? (Ad)
5 Sizzling Tech Companies on the Brink of Bullish Reversals
FedEx, Greenbrier rise; Cisco Systems, KB Home fall, Thursday, 9/21/2023
The single greatest medical breakthrough of all time? (Ad)
Turkey’s central bank hikes interest rates again in further shift in economic policies
The average long-term US mortgage rate edged up to 7.19% this week, slightly below its 2023 high
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
0.67mentions of Public Storage in the last 14 days
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


PSA stock logo

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

PSA Stock News Headlines

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.
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.
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.
Public Storage stock falls Thursday, underperforms market
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.
Public Storage (PSA-PG)
KeyCorp Comments on Public Storage's FY2023 Earnings (NYSE:PSA)
Public Storage: A Simple Question Of Supply And Demand
PSA.PR.R Public Storage 4% DEP PFD SHS R
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

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 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

Net Income
$4.35 billion
Pretax Margin
98.60%

Debt

Sales & Book Value

Annual Sales
$4.39 billion
Cash Flow
$29.08 per share
Book Value
$33.19 per share

Miscellaneous

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.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. VitanMr. 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













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
.

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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