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

Shares of Public Storage (NYSE:PSA) have received a consensus rating of “Moderate Buy” from the fifteen analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $342.07.

Several research firms recently commented on PSA. Truist Financial lifted their target price on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada reduced 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 note on Friday, November 8th. Jefferies Financial Group raised their target price on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Barclays lowered their price objective on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company decreased 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.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was 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 of the company’s stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Public Storage

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC bought a new stake in shares of Public Storage in the 4th quarter worth approximately $7,849,000. Doliver Advisors LP raised its stake in shares of Public Storage by 2.6% in the fourth quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust’s stock valued at $433,000 after buying an additional 36 shares during the period. Nordea Investment Management AB lifted its position in shares of Public Storage by 1.6% during the 4th quarter. Nordea Investment Management AB now owns 12,738 shares of the real estate investment trust’s stock valued at $3,792,000 after buying an additional 200 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Public Storage by 301.7% during the 4th quarter. Versant Capital Management Inc now owns 237 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 178 shares during the period. Finally, Global Wealth Strategies & Associates purchased a new stake in Public Storage in the 4th quarter worth about $95,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Down 1.0 %

PSA opened at $295.30 on Friday. The company’s 50 day moving average is $321.79 and its 200-day moving average is $325.17. The company has a market cap of $51.71 billion, a P/E ratio of 30.66, a PEG ratio of 5.29 and a beta of 0.74. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.06%. Public Storage’s dividend payout ratio is presently 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.