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DOW   37,986.40
QQQ   414.65
North Carolina medical marijuana sales begin at Cherokee store
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S&P 500   4,967.23
DOW   37,986.40
QQQ   414.65
North Carolina medical marijuana sales begin at Cherokee store
Ukrainian and Western leaders laud US aid package while the Kremlin warns of 'further ruin'
Biden sees a $35 price cap for insulin as a pivotal campaign issue. It’s not that clear-cut
'Civil War’ continues box-office campaign at No. 1
Hawaii lawmakers take aim at vacation rentals after Lahaina wildfire amplifies Maui housing crisis
Conservative Brazilians laud Elon Musk at rally in support of ex-president Bolsonaro
Tens of thousands of Colombians protest against the leftist president's reform agenda
S&P 500   4,967.23
DOW   37,986.40
QQQ   414.65
North Carolina medical marijuana sales begin at Cherokee store
Ukrainian and Western leaders laud US aid package while the Kremlin warns of 'further ruin'
Biden sees a $35 price cap for insulin as a pivotal campaign issue. It’s not that clear-cut
'Civil War’ continues box-office campaign at No. 1
Hawaii lawmakers take aim at vacation rentals after Lahaina wildfire amplifies Maui housing crisis
Conservative Brazilians laud Elon Musk at rally in support of ex-president Bolsonaro
Tens of thousands of Colombians protest against the leftist president's reform agenda
S&P 500   4,967.23
DOW   37,986.40
QQQ   414.65
North Carolina medical marijuana sales begin at Cherokee store
Ukrainian and Western leaders laud US aid package while the Kremlin warns of 'further ruin'
Biden sees a $35 price cap for insulin as a pivotal campaign issue. It’s not that clear-cut
'Civil War’ continues box-office campaign at No. 1
Hawaii lawmakers take aim at vacation rentals after Lahaina wildfire amplifies Maui housing crisis
Conservative Brazilians laud Elon Musk at rally in support of ex-president Bolsonaro
Tens of thousands of Colombians protest against the leftist president's reform agenda
NYSE:PSA

Public Storage (PSA) Stock Price, News & Analysis

$260.38
+0.10 (+0.04%)
(As of 04/19/2024 ET)
Today's Range
$259.09
$261.47
50-Day Range
$260.28
$293.34
52-Week Range
$233.18
$312.25
Volume
737,577 shs
Average Volume
563,922 shs
Market Capitalization
$45.75 billion
P/E Ratio
23.54
Dividend Yield
4.61%
Price Target
$305.00

Public Storage MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.67 Rating Score
Upside/​Downside
17.1% Upside
$305.00 Price Target
Short Interest
Bearish
2.25% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.53
Upright™ Environmental Score
News Sentiment
1.17mentions of Public Storage in the last 14 days
Based on 10 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
4.37%
From $16.92 to $17.66 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.76 out of 5 stars

Finance Sector

84th out of 851 stocks

Real Estate Investment Trusts Industry

12th 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

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Public Storage (PSA)
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PSA Apr 2024 185.000 put
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See More Headlines
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Company Calendar

Last Earnings
2/20/2024
Ex-Dividend for 3/28 Dividend
3/12/2024
Dividend Payable
3/28/2024
Today
4/21/2024
Next Earnings (Confirmed)
4/30/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Sector
Finance
Industry
Real estate investment trusts
Sub-Industry
Specialized REITs
CUSIP
74460D10
Employees
6,200
Year Founded
1972

Price Target and Rating

Average Stock Price Target
$305.00
High Stock Price Target
$340.00
Low Stock Price Target
$250.00
Potential Upside/Downside
+17.1%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.67
Research Coverage
12 Analysts

Profitability

Net Income
$2.15 billion
Pretax Margin
48.05%

Debt

Sales & Book Value

Annual Sales
$4.52 billion
Cash Flow
$17.75 per share
Book Value
$32.77 per share

Miscellaneous

Free Float
156,365,000
Market Cap
$45.75 billion
Optionable
Optionable
Beta
0.54

Social Links

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

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 strong market presence and stability.
  • With interests in over 3,000 self-storage facilities in the U.S., Public Storage has a significant market share in the industry.
  • Having a common equity interest in Shurgard Self Storage Limited provides exposure to the European self-storage market.
  • Public Storage's focus on acquiring, developing, and operating self-storage facilities aligns with the growing demand for storage solutions.
  • Considering the current stock price and potential for growth, investing in Public Storage offers a promising opportunity for returns.

Cons

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

  • As a specialized REIT, Public Storage may be susceptible to fluctuations in the real estate market.
  • Operating primarily in the self-storage sector could expose Public Storage to risks associated with changes in consumer behavior or economic downturns.
  • Regulatory changes or shifts in interest rates could impact Public Storage's operations and financial performance.
  • Investing in a REIT like Public Storage requires understanding terms like net rentable square feet, common equity interest, and REIT-specific regulations.
  • While the self-storage industry has shown resilience, competition and market saturation could pose challenges for Public Storage's growth trajectory.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Wednesday, April 10, 2024. Please send any questions or comments about these Public Storage pros and cons to contact@marketbeat.com.

PSA Stock Analysis - Frequently Asked Questions

Should I buy or sell Public Storage stock right now?

12 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Public Storage in the last twelve months. There are currently 1 sell rating, 3 hold ratings, 7 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities 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?

12 brokerages have issued 12 month 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 share price to reach $305.00 in the next year. This suggests a possible upside of 17.1% 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 2024?

Public Storage's stock was trading at $305.00 on January 1st, 2024. Since then, PSA stock has decreased by 14.6% and is now trading at $260.38.
View the best growth stocks for 2024 here
.

When is Public Storage's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 30th 2024.
View our PSA earnings forecast
.

How can I listen to Public Storage's earnings call?

Public Storage will be holding an earnings conference call on Wednesday, May 1st at 12:00 PM Eastern. Interested parties can register for or listen to the call using this link or dial in at 412-317-6671 with passcode "13745691".

How were Public Storage's earnings last quarter?

Public Storage (NYSE:PSA) announced its earnings results on Tuesday, February, 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, missing the consensus estimate of $4.15 by $1.94. The real estate investment trust earned $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Public Storage had a trailing twelve-month return on equity of 35.31% and a net margin of 45.34%. Public Storage's revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $4.16 earnings per share.
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 Friday, February 23rd. Stockholders of record on Wednesday, March 13th will be given a dividend of $3.00 per share on Thursday, March 28th. This represents a $12.00 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date is Tuesday, March 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 4.61%. 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 108.50%. 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 67.95% 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 2024 earnings guidance on Tuesday, February, 20th. The company provided EPS guidance of 16.600-17.200 for the period, compared to the consensus estimate of 16.990. 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 many different retail and institutional investors. Top institutional shareholders include Sumitomo Mitsui Trust Holdings Inc. (0.50%), Allspring Global Investments Holdings LLC (0.08%), State of Alaska Department of Revenue (0.05%), CWM LLC (0.05%), Wealth Enhancement Advisory Services LLC (0.05%) and Eagle Ridge Investment Management (0.04%). 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NYSE:PSA) was last updated on 4/21/2024 by MarketBeat.com Staff

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