Public Storage (NYSE:PSA) to Issue $3.00 Quarterly Dividend

Public Storage (NYSE:PSA) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Tuesday, September 15th will be given a dividend of 3.00 per share by the real estate investment trust on Tuesday, October 6th. This represents a c) dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 15th.

Public Storage has increased its dividend by an average of 0.1%per year over the last three years. Public Storage has a payout ratio of 113.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Public Storage to earn $17.43 per share next year, which means the company should continue to be able to cover its $12.00 annual dividend with an expected future payout ratio of 68.8%.

Public Storage Price Performance

PSA stock traded up $1.63 during midday trading on Friday, reaching $296.23. 683,136 shares of the company’s stock traded hands, compared to its average volume of 713,208. The company has a 50-day simple moving average of $317.90 and a two-hundred day simple moving average of $307.70. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. Public Storage has a 1-year low of $256.54 and a 1-year high of $335.55. The company has a market cap of $52.02 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 4.03 and a beta of 0.95.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm earned $4.28 earnings per share. The business’s revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, analysts anticipate that Public Storage will post 16.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PSA. Weiss Ratings reissued a “hold (c+)” rating on shares of Public Storage in a report on Wednesday. Truist Financial boosted their target price on shares of Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Raymond James Financial began coverage on shares of Public Storage in a research report on Thursday, July 16th. They set a “market perform” rating on the stock. Royal Bank Of Canada increased their price target on shares of Public Storage from $305.00 to $318.00 and gave the company a “sector perform” rating in a research note on Friday, July 31st. Finally, BNP Paribas Exane boosted their price objective on shares of Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $327.05.

About Public Storage

Public Storage is a real estate investment trust that owns, operates and develops self-storage facilities in the United States. The company provides customers with storage units for household goods, business inventory, vehicles and other personal or commercial belongings.

Its facilities offer a range of unit sizes and may include features such as drive-up access, climate-controlled storage, electronic gate access and online account management. Public Storage also provides related services, including tenant insurance options and moving and packing supplies at select locations.

Founded in 1972 and headquartered in Glendale, California, Public Storage serves customers through a nationwide network of self-storage properties.