Public Storage’s (PSA) Equal Weight Rating Reaffirmed at Barclays

Barclays reaffirmed their equal weight rating on shares of Public Storage (NYSE:PSA) in a report issued on Friday morning, Marketbeat reports. Barclays currently has a $349.00 target price on the real estate investment trust’s stock.

Several other brokerages have also recently commented on PSA. Citigroup boosted their price objective on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. UBS Group reissued a “neutral” rating on shares of Public Storage in a report on Monday, June 22nd. Jefferies Financial Group boosted their price target on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Mizuho upped their price target on shares of Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Finally, Royal Bank Of Canada increased their price objective on Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $325.37.

Public Storage Stock Performance

Shares of NYSE:PSA traded up $1.24 during midday trading on Friday, reaching $320.59. 628,597 shares of the company traded hands, compared to its average volume of 872,886. The firm’s fifty day moving average price is $312.92 and its two-hundred day moving average price is $295.87. The firm has a market capitalization of $56.28 billion, a price-to-earnings ratio of 33.09, a price-to-earnings-growth ratio of 4.29 and a beta of 0.96. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79.

Public Storage (NYSE:PSA) last issued its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, topping the consensus estimate of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company earned $4.12 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities analysts expect that Public Storage will post 16.94 earnings per share for the current year.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. Public Storage’s dividend payout ratio is presently 123.84%.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the sale, the insider directly owned 1,414 shares of the company’s stock, valued at approximately $459,281.34. The trade was a 40.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Whitener Capital Management Inc. raised its position in Public Storage by 6.3% during the second quarter. Whitener Capital Management Inc. now owns 2,371 shares of the real estate investment trust’s stock valued at $755,000 after purchasing an additional 140 shares in the last quarter. Tema ETFs LLC boosted its holdings in shares of Public Storage by 6.2% in the 2nd quarter. Tema ETFs LLC now owns 2,498 shares of the real estate investment trust’s stock worth $795,000 after purchasing an additional 145 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Public Storage by 11.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 80,797 shares of the real estate investment trust’s stock valued at $25,718,000 after purchasing an additional 8,436 shares during the last quarter. Community Financial Services Group LLC increased its position in shares of Public Storage by 829.2% during the 2nd quarter. Community Financial Services Group LLC now owns 223 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 199 shares during the last quarter. Finally, Asset Advisory Group Inc. purchased a new position in shares of Public Storage during the 2nd quarter valued at about $862,000. Institutional investors 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.