JPMorgan Chase & Co. Cuts Public Storage (NYSE:PSA) Price Target to $330.00

Public Storage (NYSE:PSA) had its price objective trimmed by JPMorgan Chase & Co. from $338.00 to $330.00 in a report issued on Monday,Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

A number of other brokerages have also commented on PSA. Evercore set a $316.00 price objective on Public Storage in a report on Monday, July 6th. Wells Fargo & Company set a $311.00 target price on Public Storage in a report on Tuesday, September 1st. Barclays boosted their target price on shares of Public Storage from $350.00 to $351.00 and gave the company an “equal weight” rating in a research report on Thursday, September 10th. Raymond James Financial started coverage on shares of Public Storage in a research note on Thursday, July 16th. They issued a “market perform” rating on the stock. Finally, Scotiabank lowered their price target on shares of Public Storage from $346.00 to $343.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, September 2nd. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $326.21.

Public Storage Stock Down 1.1%

Public Storage stock opened at $286.45 on Monday. The company’s 50-day moving average price is $313.64 and its two-hundred day moving average price is $307.07. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The stock has a market cap of $50.31 billion, a P/E ratio of 27.33, a P/E/G ratio of 3.94 and a beta of 0.95. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company posted $4.28 earnings per share. The business’s revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, analysts expect that Public Storage will post 16.92 EPS for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be given a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.2%. Public Storage’s dividend payout ratio (DPR) is presently 114.50%.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 11.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Public Storage

A number of large investors have recently bought and sold shares of the company. Bayban acquired a new position in shares of Public Storage in the 4th quarter valued at approximately $26,000. Bruce G. Allen Investments LLC boosted its position in shares of Public Storage by 89.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 43 shares in the last quarter. Continuum Advisory LLC bought a new position in Public Storage in the second quarter valued at approximately $29,000. Meeder Asset Management Inc. bought a new position in Public Storage in the second quarter valued at approximately $36,000. Finally, Reflection Asset Management acquired a new position in Public Storage during the fourth quarter valued at approximately $39,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

About Public Storage

Public Storage is a real estate investment trust that owns, operates and develops self-storage facilities in the United States. The company provides customers with storage units for household goods, business inventory, vehicles and other personal or commercial belongings.

Its facilities offer a range of unit sizes and may include features such as drive-up access, climate-controlled storage, electronic gate access and online account management. Public Storage also provides related services, including tenant insurance options and moving and packing supplies at select locations.

Founded in 1972 and headquartered in Glendale, California, Public Storage serves customers through a nationwide network of self-storage properties.