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 recommendation of "Moderate Buy" by the fifteen ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $342.07.

A number of equities research analysts have recently issued reports on PSA shares. Citigroup boosted their price target on shares of Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Barclays cut their price objective on Public Storage from $381.00 to $380.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. Jefferies Financial Group boosted their target price on shares of Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Morgan Stanley raised their price objective on Public Storage from $293.00 to $315.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada cut their price target on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated Friday, December 13th. The stock was 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 owns 2,364 shares in the company, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 11.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSA. Prospera Private Wealth LLC purchased a new stake in shares of Public Storage during the third quarter worth approximately $34,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage in the third quarter worth $38,000. EdgeRock Capital LLC acquired a new position in shares of Public Storage during the second quarter valued at approximately $39,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Public Storage in the 3rd quarter worth approximately $50,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Public Storage during the third quarter valued at $55,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Trading Down 0.8 %

Shares of PSA traded down $2.46 during midday trading on Monday, hitting $315.16. The stock had a trading volume of 753,882 shares, compared to its average volume of 712,905. 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 firm has a market cap of $55.19 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 5.29 and a beta of 0.71. The stock's 50 day moving average is $337.34 and its 200 day moving average is $323.21. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, December 13th. Public Storage's dividend payout ratio (DPR) is 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.