Public Storage (NYSE:PSA) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Public Storage (NYSE:PSA) from a sell rating to a hold rating in a research note issued to investors on Saturday.

PSA has been the subject of several other reports. Evercore decreased their price objective on shares of Public Storage from $311.00 to $309.00 in a report on Monday, April 13th. UBS Group decreased their price objective on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. The Goldman Sachs Group reissued a “buy” rating and set a $341.00 price objective on shares of Public Storage in a report on Wednesday. Truist Financial raised their target price on Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, Scotiabank raised their price objective on Public Storage from $319.00 to $321.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $309.00.

Public Storage Price Performance

Shares of NYSE:PSA opened at $301.89 on Friday. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $313.51. The business has a 50-day simple moving average of $293.63 and a two-hundred day simple moving average of $284.52. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.75 and a current ratio of 0.56. The firm has a market cap of $53.00 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 4.02 and a beta of 1.00.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company earned $4.12 earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, analysts expect that Public Storage will post 16.88 earnings per share for the current year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, March 16th. Public Storage’s dividend payout ratio (DPR) is 123.84%.

Hedge Funds Weigh In On Public Storage

Institutional investors have recently added to or reduced their stakes in the company. First Pacific Financial purchased a new position in Public Storage during the 3rd quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd purchased a new position in Public Storage during the 3rd quarter valued at approximately $27,000. Bayban purchased a new position in Public Storage during the 4th quarter valued at approximately $26,000. Raiffeisen Bank International AG purchased a new position in Public Storage during the 3rd quarter valued at approximately $30,000. Finally, Tradewinds Capital Management LLC purchased a new position in Public Storage during the 3rd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Company Profile

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.