Public Storage (NYSE:PSA) Price Target Cut to $305.00 by Analysts at BMO Capital Markets

Public Storage (NYSE:PSA) had its target price cut by BMO Capital Markets from $320.00 to $305.00 in a report issued on Monday,MarketScreener reports. They currently have a market perform rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the stock. Mizuho decreased their price target on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Evercore ISI lowered their price objective on Public Storage from $315.00 to $309.00 and set an “in-line” rating for the company in a report on Monday, December 1st. Wells Fargo & Company lifted their target price on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Royal Bank Of Canada dropped their price target on Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $301.00 target price (down previously from $316.00) on shares of Public Storage in a research note on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $317.80.

Public Storage Stock Up 1.0%

Shares of NYSE:PSA opened at $261.96 on Monday. The company has a market capitalization of $45.96 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 5.56 and a beta of 1.01. The company has a 50 day moving average of $277.99 and a two-hundred day moving average of $285.43. Public Storage has a 52-week low of $256.60 and a 52-week high of $322.49. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm earned $4.20 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, analysts forecast that Public Storage will post 16.7 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 4.6%. Public Storage’s dividend payout ratio is currently 124.61%.

Hedge Funds Weigh In On Public Storage

A number of large investors have recently made changes to their positions in PSA. Marshall & Sullivan Inc. WA acquired a new stake in shares of Public Storage in the second quarter valued at about $25,000. Harbor Asset Planning Inc. acquired a new stake in Public Storage in the 2nd quarter valued at about $25,000. First Pacific Financial acquired a new stake in shares of Public Storage in the third quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Public Storage during the third quarter worth $27,000. Finally, Asset Dedication LLC raised its holdings in Public Storage by 111.1% during the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 50 shares during the last quarter. Institutional investors and hedge funds 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.