Public Storage (NYSE:PSA) Receives Average Recommendation of “Hold” from Brokerages

Public Storage (NYSE:PSAGet Rating) has earned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $359.46.

Several research analysts have recently issued reports on the company. Jefferies Financial Group raised Public Storage from a “hold” rating to a “buy” rating and upped their price objective for the company from $366.00 to $433.00 in a research note on Monday, January 10th. StockNews.com assumed coverage on Public Storage in a research note on Thursday, March 31st. They issued a “hold” rating for the company. JPMorgan Chase & Co. upped their price objective on Public Storage from $385.00 to $434.00 and gave the company an “overweight” rating in a research note on Monday, April 4th. The Goldman Sachs Group increased their target price on shares of Public Storage from $398.00 to $440.00 and gave the company a “neutral” rating in a research report on Thursday, April 14th. Finally, Truist Financial increased their target price on shares of Public Storage from $353.00 to $380.00 in a research report on Tuesday, January 18th.

Shares of PSA stock traded down $27.47 on Monday, reaching $371.50. The company had a trading volume of 1,385,487 shares, compared to its average volume of 633,505. The stock has a market capitalization of $65.18 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 4.06 and a beta of 0.25. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.42. Public Storage has a one year low of $269.55 and a one year high of $421.76. The business’s 50-day moving average is $382.74 and its 200 day moving average is $359.00.

Public Storage (NYSE:PSAGet Rating) last posted its earnings results on Tuesday, February 22nd. The real estate investment trust reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.11. The firm had revenue of $724.80 million during the quarter, compared to analysts’ expectations of $916.68 million. Public Storage had a net margin of 57.18% and a return on equity of 39.08%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.93 earnings per share. On average, sell-side analysts forecast that Public Storage will post 15.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Wednesday, March 16th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Tuesday, March 15th. Public Storage’s dividend payout ratio is currently 81.05%.

In related news, Director Rebecca L. Owen sold 5,000 shares of the stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $358.25, for a total value of $1,791,250.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.00% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC bought a new position in Public Storage during the 4th quarter valued at $25,000. Mystic Asset Management Inc. bought a new stake in shares of Public Storage during the 4th quarter worth $26,000. Moors & Cabot Inc. raised its stake in shares of Public Storage by 2,051.5% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 23,838 shares during the period. Lee Financial Co bought a new stake in shares of Public Storage during the 4th quarter worth $27,000. Finally, CVA Family Office LLC bought a new stake in shares of Public Storage during the 4th quarter worth $30,000. Institutional investors and hedge funds own 77.96% of the company’s stock.

About Public Storage (Get Rating)

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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the ÂShurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

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