Shares of Public Storage (NYSE:PSA – Get Free Report) have received a consensus rating of “Hold” from the twenty-one analysts that are covering the firm, Marketbeat reports. Fourteen research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $327.00.
Several research analysts have recently commented on the company. Barclays lifted their target price on Public Storage from $349.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 19th. 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. Weiss Ratings upgraded Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Evercore set a $316.00 price objective on shares of Public Storage in a report on Monday, July 6th. Finally, Truist Financial boosted their target price on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd.
Public Storage Stock Performance
Public Storage (NYSE:PSA – Get Free Report) last announced its quarterly earnings data 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. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company earned $4.28 earnings per share. Public Storage’s quarterly revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities analysts forecast that Public Storage will post 16.93 earnings per share for the current fiscal year.
Public Storage Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Tuesday, September 15th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $12.00 annualized dividend and a dividend yield of 4.0%. Public Storage’s payout ratio is 114.50%.
Insider Buying and Selling at Public Storage
In related news, insider Nathaniel A. Vitan sold 1,414 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Public Storage
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Second Line Capital LLC raised its position in shares of Public Storage by 29.6% during the 2nd quarter. Second Line Capital LLC now owns 1,300 shares of the real estate investment trust’s stock worth $414,000 after purchasing an additional 297 shares during the period. Groupe la Francaise acquired a new position in Public Storage during the 2nd quarter valued at approximately $4,748,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Public Storage during the 2nd quarter valued at approximately $72,529,000. California State Teachers Retirement System grew its stake in Public Storage by 30,482.4% during the 2nd quarter. California State Teachers Retirement System now owns 77,538,088 shares of the real estate investment trust’s stock worth $24,681,149,000 after buying an additional 77,284,550 shares during the last quarter. Finally, Greenland Capital Management LP grew its stake in Public Storage by 300.0% during the 2nd quarter. Greenland Capital Management LP now owns 6,600 shares of the real estate investment trust’s stock worth $2,101,000 after buying an additional 4,950 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.
About Public Storage
Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.
The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.
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