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NYSE:PSA

Public Storage - PSA Stock Forecast, Price & News

$301.23
-0.80 (-0.26%)
(As of 02/8/2023 10:43 AM ET)
Add
Compare
Today's Range
$298.57
$303.69
50-Day Range
$271.27
$311.46
52-Week Range
$270.13
$421.76
Volume
185,390 shs
Average Volume
902,080 shs
Market Capitalization
$52.91 billion
P/E Ratio
12.25
Dividend Yield
2.60%
Price Target
$368.91

Public Storage MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.50 Rating Score
Upside/​Downside
21.6% Upside
$368.91 Price Target
Short Interest
Healthy
2.04% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.53
Upright™ Environmental Score
News Sentiment
0.32mentions of Public Storage in the last 14 days
Based on 14 Articles This Week
Insider Trading
Acquiring Shares
$744,125 Bought Last Quarter
Proj. Earnings Growth
6.79%
From $15.75 to $16.82 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

174th out of 861 stocks

Real Estate Investment Trusts Industry

32nd out of 190 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.

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PSA Stock News Headlines

Elon Musk Claims Solar Will Soon Power the World
The world's wealthiest person -- Elon Musk -- is a visionary investor. And he fully expects solar power to be our #1 energy source within a few decades. Utility-scale solar is already becoming the cheapest option for electricity generation globally. So with the push toward clean, renewable energy, it's no wonder solar is also becoming one of the fastest growing sectors in the U.S. stock market.
Elon Musk Claims Solar Will Soon Power the World
The world's wealthiest person -- Elon Musk -- is a visionary investor. And he fully expects solar power to be our #1 energy source within a few decades. Utility-scale solar is already becoming the cheapest option for electricity generation globally. So with the push toward clean, renewable energy, it's no wonder solar is also becoming one of the fastest growing sectors in the U.S. stock market.
Analysts Set Public Storage (NYSE:PSA) PT at $367.80
Public Storage Announces Tax Treatment of 2022 Dividends
Public Storage stock rises Tuesday, outperforms market
Public Storage (NYSE: PSA)
Why I'm Aggressively Buying Public Storage This Year
PSA.PS Public Storage 4.100% DP PFD S
See More Headlines
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PSA Company Calendar

Last Earnings
5/03/2022
Ex-Dividend for 12/29 Dividend
12/13/2022
Dividend Payable
12/29/2022
Today
2/08/2023
Next Earnings (Confirmed)
2/21/2023
Ex-Dividend for 3/30 Dividend
3/14/2023
Dividend Payable
3/30/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Real estate investment trusts
Sub-Industry
Specialized REITs
Sector
Finance
CUSIP
74460D10
Employees
5,800
Year Founded
1972

Price Target and Rating

Average Stock Price Forecast
$368.91
High Stock Price Forecast
$440.00
Low Stock Price Forecast
$290.00
Forecasted Upside/Downside
+22.5%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.50
Research Coverage
10 Analysts

Profitability

Net Income
$1.95 billion
Pretax Margin
100.69%

Debt

Sales & Book Value

Annual Sales
$3.42 billion
Cash Flow
$14.90 per share
Book Value
$30.01 per share

Miscellaneous

Free Float
156,318,000
Market Cap
$52.91 billion
Optionable
Optionable
Beta
0.44

Social Links


Key Executives

  • Joseph D. RussellJoseph D. Russell
    President, Chief Executive Officer & Trustee
  • H. Thomas Boyle
    Chief Financial & Investment Officer
  • Nathaniel A. VitanNathaniel A. Vitan
    Secretary, Chief Legal Officer & Senior VP
  • Natalia N. Johnson
    Chief Administrative Officer & Senior VP
  • Pete Panos
    President-Third Party Management













PSA Stock - Frequently Asked Questions

Should I buy or sell Public Storage stock right now?

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

What is Public Storage's stock price forecast for 2023?

10 Wall Street research analysts have issued 12-month price targets for Public Storage's stock. Their PSA share price forecasts range from $290.00 to $440.00. On average, they expect the company's share price to reach $368.91 in the next twelve months. This suggests a possible upside of 22.5% 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 on January 1st, 2023. Since then, PSA shares have increased by 7.5% and is now trading at $301.13.
View the best growth stocks for 2023 here
.

Are investors shorting Public Storage?

Public Storage saw a drop in short interest during the month of December. As of December 30th, there was short interest totaling 2,890,000 shares, a drop of 20.2% from the December 15th total of 3,620,000 shares. Based on an average daily trading volume, of 886,000 shares, the short-interest ratio is presently 3.3 days. Approximately 1.9% of the company's shares are short sold.
View Public Storage's Short Interest
.

When is Public Storage's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, February 21st 2023.
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, February 22nd at 12:00 PM Eastern. Interested parties can register for or listen to the call using this link or dial in at 402-220-1150.

How were Public Storage's earnings last quarter?

Public Storage (NYSE:PSA) announced its earnings results on Tuesday, May, 3rd. The real estate investment trust reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by $0.96. The real estate investment trust had revenue of $749.27 million for the quarter, compared to the consensus estimate of $985.58 million. Public Storage had a net margin of 110.91% and a trailing twelve-month return on equity of 78.38%. The firm's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.82 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 Sunday, February 5th. Shareholders of record on Wednesday, March 15th will be paid a dividend of $3.00 per share on Thursday, March 30th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Tuesday, March 14th. This is an increase from the stock's previous quarterly dividend of $2.00.
Read our dividend analysis for PSA
.

Is Public Storage a good dividend stock?

Public Storage (NYSE:PSA) pays an annual dividend of $8.00 per share and currently has a dividend yield of 2.60%. The dividend payout ratio is 32.52%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PSA will have a dividend payout ratio of 47.56% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PSA.

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 Daiwa Securities Group Inc. (0.88%), Russell Investments Group Ltd. (0.54%), Sumitomo Mitsui Trust Holdings Inc. (0.53%), Swiss National Bank (0.37%), Bank of Montreal Can (0.33%) and Aew Capital Management L P (0.26%). Insiders that own company stock include Heisz Leslie Stone, John Reyes, Joseph D Russell Jr, Nathaniel A Vitan, Nathaniel A Vitan, Rebecca L Owen, Ronald L Havner Jr, Tamara Hughes Gustavson and Uri P Harkham.
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 $301.13.

How much money does Public Storage make?

Public Storage (NYSE:PSA) has a market capitalization of $52.89 billion and generates $3.42 billion in revenue each year. The real estate investment trust earns $1.95 billion in net income (profit) each year or $24.60 on an earnings per share basis.

How many employees does Public Storage have?

The company employs 5,800 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 or via fax at 818-244-9530.

This page (NYSE:PSA) was last updated on 2/8/2023 by MarketBeat.com Staff