Public Storage (NYSE:PSA) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Public Storage (NYSE:PSA - Get Free Report) have been given a consensus rating of "Moderate Buy" by the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $339.64.

A number of research firms have weighed in on PSA. Bank of America cut shares of Public Storage from a "buy" rating to a "neutral" rating and set a $318.00 target price on the stock. in a research note on Monday, August 5th. Wolfe Research raised Public Storage to a "strong-buy" rating in a report on Wednesday, September 4th. Wells Fargo & Company lowered their target price on Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Truist Financial downgraded Public Storage from a "buy" rating to a "hold" rating and set a $306.00 price target for the company. in a research note on Thursday, August 1st. Finally, Barclays dropped their price objective on shares of Public Storage from $381.00 to $380.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th.

Institutional Trading of Public Storage

A number of hedge funds have recently modified their holdings of the business. OFI Invest Asset Management bought a new stake in Public Storage during the second quarter worth about $32,000. Prospera Private Wealth LLC bought a new position in Public Storage during the 3rd quarter valued at approximately $34,000. Opal Wealth Advisors LLC bought a new position in Public Storage during the 2nd quarter valued at approximately $36,000. Ashton Thomas Securities LLC purchased a new position in Public Storage during the third quarter valued at $38,000. Finally, Crewe Advisors LLC bought a new stake in Public Storage in the first quarter worth $39,000. Institutional investors own 78.79% of the company's stock.

Public Storage Trading Down 0.5 %

NYSE PSA opened at $332.86 on Thursday. The business's fifty day moving average is $344.69 and its 200-day moving average is $315.76. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $58.29 billion, a price-to-earnings ratio of 34.56, a PEG ratio of 5.56 and a beta of 0.70. Public Storage has a one year low of $251.49 and a one year high of $369.99.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.61%. Public Storage's dividend payout ratio is presently 124.61%.

About Public Storage

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.