Analysts Set Public Storage (NYSE:PSA) PT at $317.80

by · The Cerbat Gem

Public Storage (NYSE:PSA – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $317.80.

PSA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $301.00 price objective (down previously from $316.00) on shares of Public Storage in a research report on Thursday, December 18th. BNP Paribas Exane decreased their price target on Public Storage from $329.00 to $315.00 in a research note on Tuesday, December 23rd. BMO Capital Markets lowered their price target on Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a report on Monday, December 22nd. Mizuho cut their price objective on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Finally, UBS Group decreased their price objective on shares of Public Storage from $295.00 to $293.00 and set a “neutral” rating for the company in a research report on Tuesday, November 18th.

Read Our Latest Analysis on Public Storage

Hedge Funds Weigh In On Public Storage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSA. Marshall & Sullivan Inc. WA purchased a new stake in Public Storage during the 2nd quarter valued at about $25,000. Harbor Asset Planning Inc. purchased a new position in shares of Public Storage in the second quarter worth about $25,000. First Pacific Financial acquired a new stake in shares of Public Storage during the third quarter worth about $26,000. Harvest Fund Management Co. Ltd purchased a new stake in Public Storage in the third quarter valued at approximately $27,000. Finally, Asset Dedication LLC boosted its position in Public Storage by 111.1% in the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 0.5%

Shares of Public Storage stock opened at $260.69 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99. The company has a market cap of $45.74 billion, a P/E ratio of 27.07, a PEG ratio of 5.58 and a beta of 1.01. The firm’s 50 day moving average price is $276.15 and its 200-day moving average price is $284.74. Public Storage has a 52-week low of $256.60 and a 52-week high of $322.49.

Public Storage (NYSE:PSA – Get Free Report) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period last year, the firm earned $4.20 earnings per share. Public Storage’s revenue was down 5.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, sell-side analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Monday, December 15th. Public Storage’s payout ratio is presently 124.61%.

Public Storage Company Profile

(Get Free Report)

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.

Further Reading