Public Storage (NYSE:PSA) Given Consensus Rating of "Moderate Buy" by Analysts

Public Storage (NYSE:PSA - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirteen ratings firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $336.25.

PSA has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Bank of America upgraded Public Storage from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $349.00 to $368.00 in a research note on Tuesday. Mizuho assumed coverage on Public Storage in a report on Wednesday, April 9th. They set a "neutral" rating and a $287.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and increased their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Scotiabank raised shares of Public Storage from a "sector perform" rating to a "sector outperform" rating and reduced their price objective for the company from $333.00 to $305.00 in a research note on Wednesday, April 9th.

Institutional Trading of Public Storage

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Public Storage in the fourth quarter worth about $931,286,000. Northern Trust Corp increased its stake in Public Storage by 43.4% in the 4th quarter. Northern Trust Corp now owns 2,476,596 shares of the real estate investment trust's stock worth $741,592,000 after purchasing an additional 749,913 shares during the period. Cohen & Steers Inc. lifted its position in Public Storage by 12.3% in the fourth quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock valued at $1,626,731,000 after purchasing an additional 592,944 shares during the last quarter. GAMMA Investing LLC lifted its position in Public Storage by 34,827.1% in the first quarter. GAMMA Investing LLC now owns 524,955 shares of the real estate investment trust's stock valued at $157,114,000 after purchasing an additional 523,452 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Public Storage by 44.6% during the fourth quarter. Deutsche Bank AG now owns 1,407,754 shares of the real estate investment trust's stock valued at $421,538,000 after purchasing an additional 433,918 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Performance

NYSE PSA traded down $1.12 during trading on Friday, hitting $294.11. 65,078 shares of the company's stock traded hands, compared to its average volume of 734,099. The stock has a market capitalization of $51.59 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 4.91 and a beta of 0.76. 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 business has a 50 day moving average of $295.53 and a 200-day moving average of $310.69. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 13th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.08%. The ex-dividend date was Thursday, March 13th. Public Storage's dividend payout ratio (DPR) is presently 112.89%.

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.