Public Storage (NYSE:PSA) Receives $339.64 Consensus PT from Analysts

Public Storage (NYSE:PSA) has earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $339.64.

PSA has been the topic of a number of recent analyst reports. Truist Financial downgraded Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price objective on the stock. in a research note on Thursday, August 1st. Scotiabank boosted their target price on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 22nd. Royal Bank of Canada decreased their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group lifted their price target on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Wolfe Research upgraded shares of Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th.

Institutional Investors Weigh In On Public Storage

Large investors have recently made changes to their positions in the stock. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage in the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage in the 3rd quarter valued at approximately $38,000. OFI Invest Asset Management acquired a new stake in shares of Public Storage in the 2nd quarter valued at approximately $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Public Storage in the 2nd quarter valued at approximately $36,000. Finally, Crewe Advisors LLC acquired a new stake in shares of Public Storage in the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 0.5 %

Shares of NYSE PSA opened at $337.58 on Thursday. The stock has a market cap of $59.11 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 5.59 and a beta of 0.70. The business has a 50 day simple moving average of $343.82 and a 200 day simple moving average of $316.69. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a 52 week low of $251.49 and a 52 week high of $369.99.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

Public Storage Company Profile

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.