Public Storage (NYSE:PSA) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Public Storage (NYSE:PSA) have been given a consensus recommendation of “Hold” by the twenty-one ratings firms that are presently covering the stock, Marketbeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $326.21.

Several research firms recently commented on PSA. Wells Fargo & Company set a $311.00 price objective on Public Storage in a research note on Tuesday, September 1st. Raymond James Financial initiated coverage on Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating for the company. Evercore set a $308.00 target price on Public Storage in a research note on Monday, September 21st. UBS Group upped their price target on Public Storage from $314.00 to $326.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Public Storage in a research note on Wednesday, September 9th.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 11.10% of the stock is currently owned by company insiders.

Institutional Trading of Public Storage

A number of institutional investors have recently modified their holdings of PSA. BlackRock Inc. bought a new stake in shares of Public Storage during the 2nd quarter valued at $5,495,077,000. Norges Bank bought a new stake in shares of Public Storage during the fourth quarter valued at about $1,163,751,000. Capital International Investors increased its position in shares of Public Storage by 821.4% during the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after buying an additional 3,686,211 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Public Storage by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock worth $1,056,976,000 after buying an additional 66,445 shares in the last quarter. Finally, Cohen & Steers Inc. lifted its holdings in shares of Public Storage by 9.3% in the fourth quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock worth $1,036,375,000 after buying an additional 339,882 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Trading Up 0.5%

NYSE PSA opened at $284.12 on Friday. The business’s fifty day moving average is $309.93 and its 200-day moving average is $306.32. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market capitalization of $49.90 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 4.22 and a beta of 0.94. Public Storage has a one year low of $256.54 and a one year high of $335.55.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating the consensus estimate of $2.53 by $1.64. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities research analysts predict that Public Storage will post 16.92 EPS for the current year.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Tuesday, September 15th. Public Storage’s payout ratio is currently 114.50%.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers seeking space for household belongings, vehicles, inventory, records and other personal or commercial items.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States. Its facilities serve customers across numerous U.S. states and typically offer a range of unit sizes, electronic access, online reservations and payment services.