Public Storage (PSA) to Release Quarterly Earnings on Monday

Public Storage (NYSE:PSA - Get Free Report) is expected to be releasing its earnings data after the market closes on Monday, February 24th. Analysts expect Public Storage to post earnings of $4.23 per share and revenue of $1.18 billion for the quarter. Parties interested in registering for the company's conference call can do so using this link.

Public Storage Price Performance

NYSE:PSA traded up $0.21 during trading hours on Wednesday, hitting $297.21. 474,671 shares of the company's stock traded hands, compared to its average volume of 636,052. The firm has a market cap of $52.04 billion, a P/E ratio of 30.86, a P/E/G ratio of 4.80 and a beta of 0.74. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The business's fifty day simple moving average is $298.73 and its two-hundred day simple moving average is $325.54. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PSA shares. Royal Bank of Canada decreased their price objective on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. Truist Financial raised their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research report on Thursday, December 5th. Wells Fargo & Company cut their target price on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and raised their price target for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Barclays cut their price objective on Public Storage from $380.00 to $361.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $344.54.

Insider Buying and Selling

In other news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the sale, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.10% of the stock is owned by insiders.

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.