Public Storage (NYSE:PSA) PT Set at $348.00 by Evercore ISI

Evercore ISI set a $348.00 target price on Public Storage (NYSE:PSAGet Rating) in a research note published on Monday morning, Stock Target Advisor reports.

Several other research analysts have also weighed in on PSA. The Goldman Sachs Group upped their price objective on shares of Public Storage from $398.00 to $440.00 and gave the company a neutral rating in a research note on Thursday, April 14th. Raymond James dropped their price target on shares of Public Storage from $375.00 to $365.00 in a research note on Monday, May 23rd. JPMorgan Chase & Co. increased their price target on shares of Public Storage from $385.00 to $434.00 and gave the stock an overweight rating in a research note on Monday, April 4th. Morgan Stanley dropped their price target on shares of Public Storage from $357.00 to $298.00 and set an equal weight rating on the stock in a research note on Wednesday, May 25th. Finally, StockNews.com lowered shares of Public Storage from a buy rating to a hold rating in a research note on Friday, June 10th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage currently has an average rating of Moderate Buy and a consensus target price of $372.00.

Public Storage stock opened at $308.17 on Monday. The firm has a market cap of $54.07 billion, a PE ratio of 29.95, a P/E/G ratio of 2.76 and a beta of 0.29. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.07 and a current ratio of 2.07. The firm’s 50 day moving average price is $338.21 and its two-hundred day moving average price is $356.68. Public Storage has a twelve month low of $292.32 and a twelve month high of $421.76.

Public Storage (NYSE:PSAGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The real estate investment trust reported $2.63 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.96). The company had revenue of $749.27 million during the quarter, compared to analyst estimates of $985.58 million. Public Storage had a net margin of 54.79% and a return on equity of 38.01%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.82 EPS. Equities analysts anticipate that Public Storage will post 15.52 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be paid a $2.00 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $8.00 dividend on an annualized basis and a yield of 2.60%. Public Storage’s payout ratio is presently 77.75%.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Public Storage by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 20,359,277 shares of the real estate investment trust’s stock valued at $7,945,819,000 after buying an additional 275,264 shares during the last quarter. BlackRock Inc. grew its stake in Public Storage by 2.7% in the 4th quarter. BlackRock Inc. now owns 17,255,693 shares of the real estate investment trust’s stock valued at $6,463,290,000 after buying an additional 456,793 shares during the last quarter. State Street Corp grew its stake in Public Storage by 10.3% in the 1st quarter. State Street Corp now owns 11,667,458 shares of the real estate investment trust’s stock valued at $4,553,576,000 after buying an additional 1,085,578 shares during the last quarter. Wellington Management Group LLP grew its stake in Public Storage by 1.9% in the 1st quarter. Wellington Management Group LLP now owns 4,041,870 shares of the real estate investment trust’s stock valued at $1,577,461,000 after buying an additional 74,406 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Public Storage by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 3,183,181 shares of the real estate investment trust’s stock valued at $1,189,857,000 after buying an additional 66,728 shares during the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Public Storage Company Profile (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 Shurgard 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.

Featured Articles

Analyst Recommendations for Public Storage (NYSE:PSA)

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.