Public Storage (NYSE:PSA) Research Coverage Started at Truist Financial

Truist Financial initiated coverage on shares of Public Storage (NYSE:PSA) in a research report report published on Friday morning, MarketBeat reports. The firm issued a buy rating and a $317.00 price objective on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the company. Evercore set a $308.00 price target on Public Storage in a research report on Monday, September 21st. Barclays boosted their price objective on Public Storage from $350.00 to $351.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 10th. UBS Group upped their target price on Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a report on Friday, July 10th. Scotiabank cut their target price on Public Storage from $346.00 to $343.00 and set a “sector outperform” rating for the company in a research note on Wednesday, September 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Public Storage in a report on Wednesday, September 9th. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Storage currently has an average rating of “Hold” and a consensus target price of $325.11.

Public Storage Stock Performance

PSA opened at $284.48 on Friday. The firm has a market capitalization of $49.96 billion, a PE ratio of 27.14, a PEG ratio of 4.24 and a beta of 0.94. Public Storage has a twelve month low of $256.54 and a twelve month high of $335.55. The firm’s 50-day moving average price is $309.16 and its 200 day moving average price is $306.28. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $1.64. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company earned $4.28 EPS. Public Storage’s revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, sell-side analysts expect that Public Storage will post 16.92 EPS for the current fiscal year.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s payout ratio is presently 114.50%.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Public Storage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSA. BlackRock Inc. purchased a new stake in Public Storage in the second quarter valued at $5,495,077,000. Capital International Investors grew its holdings in shares of Public Storage by 821.4% during the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock worth $1,073,032,000 after purchasing an additional 3,686,211 shares during the period. Legal & General Group Plc purchased a new position in shares of Public Storage during the 2nd quarter worth $601,650,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Public Storage during the 2nd quarter worth about $558,904,000. Finally, Deutsche Bank AG acquired a new stake in shares of Public Storage during the 2nd quarter worth about $400,776,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers seeking space for household belongings, vehicles, inventory, records and other personal or commercial items.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States. Its facilities serve customers across numerous U.S. states and typically offer a range of unit sizes, electronic access, online reservations and payment services.