Shares of Public Storage (NYSE:PSA – Get Free Report) have received an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $309.64.
A number of research analysts have recently weighed in on the company. Scotiabank raised their target price on Public Storage from $289.00 to $314.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a report on Thursday, March 28th. Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $280.00 to $310.00 in a report on Friday, April 5th. Barclays cut their price target on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a report on Monday, May 20th. Finally, Evercore ISI increased their price objective on shares of Public Storage from $289.00 to $300.00 and gave the company an “in-line” rating in a research note on Monday, July 15th.
View Our Latest Analysis on PSA
Insider Buying and Selling at Public Storage
Hedge Funds Weigh In On Public Storage
A number of large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings in Public Storage by 107.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 44 shares in the last quarter. Core Wealth Advisors Inc. purchased a new stake in shares of Public Storage in the fourth quarter worth about $30,000. EdgeRock Capital LLC bought a new position in shares of Public Storage in the fourth quarter valued at approximately $32,000. OFI Invest Asset Management purchased a new position in Public Storage during the second quarter valued at approximately $32,000. Finally, Private Ocean LLC increased its holdings in Public Storage by 5,450.0% during the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 109 shares during the period. 78.79% of the stock is owned by institutional investors.
Public Storage Price Performance
Shares of NYSE PSA opened at $301.97 on Friday. The stock has a market cap of $53.07 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 4.39 and a beta of 0.65. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.54 and a current ratio of 0.54. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $314.93. The firm’s 50-day simple moving average is $286.07 and its 200 day simple moving average is $282.42.
Public Storage Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Wednesday, June 12th were issued a $3.00 dividend. The ex-dividend date was Wednesday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.97%. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.
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.
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