Public Storage (NYSE:PSA – Free Report) had its target price hoisted by Scotiabank from $345.00 to $346.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. Scotiabank currently has a sector outperform rating on the real estate investment trust’s stock.
Other research analysts have also recently issued research reports about the stock. BMO Capital Markets lifted their price objective on shares of Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a report on Monday, June 15th. Jefferies Financial Group increased their target price on shares of Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Mizuho lifted their price target on Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upped their price target on Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $326.16.
View Our Latest Stock Report on Public Storage
Public Storage Stock Down 0.6%
Public Storage (NYSE:PSA – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping 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 business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the firm posted $4.28 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, sell-side analysts expect that Public Storage will post 16.93 EPS for the current year.
Public Storage Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Tuesday, September 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Public Storage’s payout ratio is presently 114.50%.
Insiders Place Their Bets
In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction on 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 can be accessed through this hyperlink. Corporate insiders own 11.10% of the company’s stock.
Institutional Trading of Public Storage
Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC lifted its position in shares of Public Storage by 2.2% during the 1st quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock valued at $419,000 after acquiring an additional 34 shares during the period. Gryphon Financial Partners LLC grew its holdings in Public Storage by 2.6% in the first quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 36 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its stake in Public Storage by 1.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock valued at $575,000 after purchasing an additional 37 shares in the last quarter. Raiffeisen Bank International AG increased its stake in Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 37 shares in the last quarter. Finally, Chesapeake Capital Corp IL raised its holdings in shares of Public Storage by 1.3% during the second quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust’s stock valued at $953,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.
Public Storage Company Profile
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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