Public Storage (NYSE:PSA) Receives $323.53 Consensus Price Target from Brokerages

Shares of Public Storage (NYSE:PSA) have received an average rating of “Hold” from the twenty-one brokerages that are currently covering the stock, MarketBeat.com reports. Twelve analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $324.6842.

PSA has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Jefferies Financial Group lifted their target price on Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Barclays lowered their target price on Public Storage from $352.00 to $349.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Scotiabank lifted their target price on Public Storage from $340.00 to $342.00 and gave the company a “sector outperform” rating in a research note on Thursday, June 18th. Finally, William Blair set a $305.00 target price on Public Storage in a research note on Monday, March 16th.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares of the company’s stock, valued at $459,281.34. This trade represents a 40.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.10% of the stock is owned by corporate insiders.

Institutional Trading of Public Storage

Hedge funds have recently modified their holdings of the business. Empowered Funds LLC raised its holdings in Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after purchasing an additional 373 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Public Storage during the second quarter worth $929,000. Nebula Research & Development LLC acquired a new position in Public Storage during the second quarter worth $1,113,000. Treasurer of the State of North Carolina raised its holdings in Public Storage by 1.9% during the second quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock worth $21,647,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Ieq Capital LLC raised its holdings in shares of Public Storage by 219.8% in the second quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock worth $14,140,000 after acquiring an additional 33,122 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Price Performance

Shares of NYSE PSA opened at $319.75 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $331.79. The firm has a market capitalization of $56.13 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 4.28 and a beta of 0.98. The stock’s 50-day simple moving average is $308.71 and its 200-day simple moving average is $291.73.

Public Storage (NYSE:PSA) last issued its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.29. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the company earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities research analysts forecast that Public Storage will post 16.94 EPS for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, June 15th. Public Storage’s dividend payout ratio (DPR) is currently 123.84%.

About Public Storage

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.