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 0.9 %
NYSE:PSA opened at $345.99 on Thursday. The company has a market cap of $60.71 billion, a PE ratio of 29.47, a P/E/G ratio of 3.03 and a beta of 0.34. Public Storage has a twelve month low of $292.32 and a twelve month high of $421.76. 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 company's 50 day moving average is $316.73 and its two-hundred day moving average is $347.17.
Public Storage Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Wednesday, September 14th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.31%. The ex-dividend date is Tuesday, September 13th. Public Storage's dividend payout ratio is presently 68.14%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on PSA. Citigroup restated a "buy" rating and issued a $367.00 price target on shares of Public Storage in a report on Thursday, July 28th. Stifel Nicolaus reduced their price target on shares of Public Storage from $410.00 to $360.00 in a report on Tuesday, June 21st. 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 report on Thursday, May 19th. StockNews.com upgraded shares of Public Storage from a "hold" rating to a "buy" rating in a report on Monday. Finally, Raymond James cut their price objective on shares of Public Storage from $375.00 to $365.00 in a research report on Monday, May 23rd. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Public Storage has an average rating of "Moderate Buy" and a consensus target price of $366.08.