Analysts Set Public Storage (NYSE:PSA) PT at $305.00

Public Storage (NYSE:PSA) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $305.00.

Several analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Scotiabank lifted their price objective on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research report on Monday, March 18th. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Public Storage in a report on Tuesday, January 30th. They set a “sell” rating and a $250.00 target price for the company. Finally, Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $280.00 to $310.00 in a research note on Friday, April 5th.

Public Storage Price Performance

NYSE:PSA opened at $262.22 on Wednesday. The stock has a market capitalization of $46.07 billion, a PE ratio of 23.71, a P/E/G ratio of 3.57 and a beta of 0.54. Public Storage has a 1-year low of $233.18 and a 1-year high of $312.25. The firm has a fifty day simple moving average of $282.12 and a 200 day simple moving average of $276.57. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 1.58.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $4.15 by ($1.94). The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.14 billion. Public Storage had a net margin of 45.34% and a return on equity of 35.31%. The business’s revenue was up 6.6% on a year-over-year basis. During the same period last year, the business earned $4.16 EPS. On average, research analysts expect that Public Storage will post 16.93 EPS for the current fiscal year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were given a dividend of $3.00 per share. The ex-dividend date was Tuesday, March 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.58%. Public Storage’s payout ratio is 108.50%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in Public Storage by 107.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 44 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Public Storage during the 1st quarter worth approximately $26,000. Core Wealth Advisors Inc. bought a new position in Public Storage in the fourth quarter valued at approximately $30,000. ICA Group Wealth Management LLC acquired a new position in Public Storage during the fourth quarter valued at approximately $29,000. Finally, Private Ocean LLC lifted its stake in Public Storage by 5,450.0% during the fourth quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 109 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

About Public Storage

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 December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.