Public Storage (NYSE:PSA) Given Average Rating of “Moderate Buy” by Analysts

Public Storage (NYSE:PSA) has earned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $339.64.

A number of equities research analysts recently weighed in on PSA shares. Scotiabank boosted their price objective on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research report on Thursday, August 22nd. Barclays dropped their price target on Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Jefferies Financial Group raised their price target on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Citigroup raised their target price on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a research note on Friday, August 30th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PSA. State Street Corp boosted its stake in Public Storage by 0.5% during the third quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust’s stock valued at $3,773,571,000 after buying an additional 55,123 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Public Storage by 4.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,432,643 shares of the real estate investment trust’s stock valued at $1,575,794,000 after acquiring an additional 219,391 shares during the last quarter. FMR LLC grew its stake in shares of Public Storage by 20.9% in the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after purchasing an additional 869,066 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Public Storage by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust’s stock worth $1,425,941,000 after purchasing an additional 52,807 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Public Storage by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock worth $1,023,080,000 after purchasing an additional 54,992 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Up 3.0 %

PSA stock opened at $347.86 on Thursday. The firm has a market cap of $60.91 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 5.61 and a beta of 0.70. Public Storage has a 1-year low of $252.96 and a 1-year high of $369.99. The firm has a fifty day moving average price of $343.52 and a two-hundred day moving average price of $317.53. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $3.00 dividend. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.45%. Public Storage’s dividend payout ratio is presently 124.61%.

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.