Shares of Public Storage (NYSE:PSA – Get Free Report) have earned a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $325.15.
A number of research firms recently commented on PSA. Scotiabank raised their price objective on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Evercore ISI boosted their price objective on Public Storage from $330.00 to $334.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 price objective for the company. in a research report on Monday, August 5th. Wolfe Research raised Public Storage to a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, Barclays boosted their price target on Public Storage from $327.00 to $374.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd.
Institutional Investors Weigh In On Public Storage
Public Storage Stock Up 0.8 %
Shares of Public Storage stock opened at $359.16 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.93. Public Storage has a 1-year low of $233.18 and a 1-year high of $361.23. The business’s fifty day moving average price is $320.20 and its two-hundred day moving average price is $292.92. The company has a market capitalization of $62.86 billion, a P/E ratio of 32.62, a PEG ratio of 5.07 and a beta of 0.67.
Public Storage (NYSE:PSA – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share for the quarter, missing the consensus estimate of $4.20 by ($1.54). The company had revenue of $921.70 million during the quarter, compared to analyst estimates of $1.16 billion. Public Storage had a return on equity of 36.55% and a net margin of 44.88%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $4.28 EPS. As a group, research analysts forecast that Public Storage will post 16.73 EPS for the current year.
Public Storage Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Friday, September 13th. Public Storage’s payout ratio 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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