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 Up 0.5 %
Shares of PSA traded up $1.60 during trading hours on Monday, reaching $353.30. 8,849 shares of the stock traded hands, compared to its average volume of 736,090. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 1.29. The stock has a fifty day simple moving average of $317.73 and a 200 day simple moving average of $347.12. Public Storage has a 52 week low of $292.32 and a 52 week high of $421.76. The company has a market cap of $61.99 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 3.21 and a beta of 0.34.
Public Storage Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, September 14th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Tuesday, September 13th. Public Storage's payout ratio is currently 68.14%.
Analysts Set New Price Targets
PSA has been the subject of several recent analyst reports. Evercore ISI set a $348.00 price objective on shares of Public Storage in a research report on Monday, June 20th. Raymond James reduced their price target on shares of Public Storage from $375.00 to $365.00 in a report on Monday, May 23rd. Jefferies Financial Group reduced their price target on shares of Public Storage from $465.00 to $369.00 and set a "buy" rating for the company in a report on Thursday, June 30th. 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 report on Monday, July 25th. Finally, Morgan Stanley reduced their price target on shares of Public Storage from $357.00 to $298.00 and set an "equal weight" rating for the company in a report on Wednesday, May 25th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $366.08.