Public Storage (NYSE:PSA) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Public Storage (NYSE:PSA - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $345.57.

PSA has been the topic of a number of research analyst reports. Barclays decreased their price target on Public Storage from $381.00 to $380.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th. Evercore ISI cut their price target on Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a report on Monday, October 14th. Wells Fargo & Company reduced their price target on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada lowered their price objective on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. Finally, Morgan Stanley upped their target price on shares of Public Storage from $293.00 to $315.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 2nd.

Public Storage Price Performance

Shares of NYSE PSA traded down $6.81 during midday trading on Friday, reaching $288.65. 883,138 shares of the company traded hands, compared to its average volume of 675,270. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The firm 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. The stock's 50-day simple moving average is $321.09 and its 200-day simple moving average is $325.15. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage Announces Dividend

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

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage 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 transaction, the insider now owns 2,364 shares of the company's stock, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 11.00% of the company's stock.

Institutional Investors Weigh In On Public Storage

A number of hedge funds and other institutional investors have recently made changes to their positions in PSA. Prospera Private Wealth LLC bought a new stake in shares of Public Storage in the third quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new position in shares of Public Storage during the 3rd quarter worth approximately $38,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Public Storage in the third quarter valued at approximately $50,000. Harbor Capital Advisors Inc. bought a new stake in shares of Public Storage in the third quarter worth $55,000. Finally, Versant Capital Management Inc boosted its holdings in Public Storage by 301.7% during the fourth quarter. Versant Capital Management Inc now owns 237 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 178 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

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.