Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020. Our headquarters are located in Glendale, California.
Public Storage Stock Down 0.3 %
Shares of PSA traded down $1.19 during mid-day trading on Tuesday, hitting $354.15. 393 shares of the company's stock were exchanged, compared to its average volume of 663,083. The firm has a fifty day moving average of $318.39 and a two-hundred day moving average of $347.08. Public Storage has a twelve month low of $292.32 and a twelve month high of $421.76. The stock has a market cap of $62.14 billion, a price-to-earnings ratio of 30.27, a P/E/G ratio of 3.21 and a beta of 0.34. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 1.29.
Public Storage Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Wednesday, September 14th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $8.00 annualized dividend and a dividend yield of 2.26%. Public Storage's dividend payout ratio (DPR) is 68.14%.
Analysts Set New Price Targets
Several research firms recently commented on PSA. Truist Financial cut their target price on shares of Public Storage from $425.00 to $385.00 and set a "buy" rating for the company in a research note on Wednesday, June 1st. Evercore ISI set a $348.00 price target on shares of Public Storage in a research report on Monday, June 20th. UBS Group reduced their price target on shares of Public Storage from $390.00 to $336.00 and set a "neutral" rating for the company in a research report on Monday, July 25th. BMO Capital Markets upgraded shares of Public Storage from a "market perform" rating to an "outperform" rating and reduced their price target for the company from $410.00 to $370.00 in a research report on Thursday, May 19th. Finally, StockNews.com upgraded shares of Public Storage from a "hold" rating to a "buy" rating in a research report on Monday, August 8th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $367.33.