Brokerages Set Public Storage (NYSE:PSA) PT at $342.07

Shares of Public Storage (NYSE:PSA) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $346.00.

A number of research firms have issued reports on PSA. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and boosted their price objective for the company from $298.00 to $299.00 in a report on Friday. Wells Fargo & Company reduced their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Morgan Stanley lifted their price objective on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Evercore ISI reduced their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Finally, Truist Financial boosted their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.00% of the stock is owned by insiders.

Institutional Trading of Public Storage

Institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. lifted its position in shares of Public Storage by 12.9% in the 2nd quarter. Victory Capital Management Inc. now owns 82,440 shares of the real estate investment trust’s stock worth $23,714,000 after purchasing an additional 9,411 shares during the period. Private Advisor Group LLC grew its holdings in Public Storage by 13.4% during the 2nd quarter. Private Advisor Group LLC now owns 5,161 shares of the real estate investment trust’s stock worth $1,485,000 after acquiring an additional 610 shares during the period. Acadian Asset Management LLC bought a new position in shares of Public Storage in the 2nd quarter worth about $1,459,000. Caprock Group LLC raised its position in shares of Public Storage by 35.4% in the 2nd quarter. Caprock Group LLC now owns 2,010 shares of the real estate investment trust’s stock worth $578,000 after acquiring an additional 525 shares in the last quarter. Finally, PFG Investments LLC lifted its stake in shares of Public Storage by 7.7% in the 2nd quarter. PFG Investments LLC now owns 1,280 shares of the real estate investment trust’s stock valued at $368,000 after purchasing an additional 91 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 2.3 %

Shares of Public Storage stock opened at $288.65 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a 50-day moving average of $321.09 and a 200-day moving average of $325.66. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The stock has a market cap of $50.55 billion, a PE ratio of 29.97, a PEG ratio of 5.29 and a beta of 0.74.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.16%. The ex-dividend date was Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

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.