Key Points
- Public Storage insider Nathaniel Vitan sold 1,414 shares for approximately $463,127 at an average price of $327.53.
- Public Storage reported quarterly EPS of $4.17, exceeding the $2.53 analyst consensus, while revenue of $1.23 billion was essentially in line with estimates but declined 0.5% year over year.
- The REIT declared a quarterly dividend of $3.00, equivalent to $12.00 annually and a 3.7% yield. Analysts maintain a consensus “Hold” rating with a $326.05 price target, while institutional investors own 78.79% of shares.
Public Storage (NYSE:PSA - Get Free Report) insider Nathaniel Vitan sold 1,414 shares of the company's stock in a transaction on Thursday, August 13th. The stock was 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 link.
Public Storage Stock Performance
Shares of PSA opened at $325.99 on Friday. 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 company's fifty day moving average price is $322.15 and its 200 day moving average price is $304.57. The company has a market capitalization of $57.25 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 3.87 and a beta of 0.96. Public Storage has a one year low of $256.54 and a one year high of $335.55.
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 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $1.64. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the business earned $4.28 earnings per share. The firm's revenue for the quarter was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, analysts expect that Public Storage will post 16.93 earnings per share for the current year.
Public Storage Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Tuesday, September 15th will be given a $3.00 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.7%. Public Storage's dividend payout ratio (DPR) is currently 114.50%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on PSA shares. Jefferies Financial Group boosted their price objective on Public Storage from $350.00 to $355.00 and gave the company a "buy" rating in a research report on Wednesday, May 20th. Wall Street Zen raised Public Storage from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Citigroup lifted their price target on shares of Public Storage from $325.00 to $363.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. JPMorgan Chase & Co. boosted their price target on shares of Public Storage from $291.00 to $338.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. Finally, BMO Capital Markets increased their price objective on shares of Public Storage from $305.00 to $340.00 and gave the company a "market perform" rating in a research note on Monday, June 15th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $326.05.
Check Out Our Latest Stock Analysis on PSA
Hedge Funds Weigh In On Public Storage
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bayban acquired a new stake in shares of Public Storage during the 4th quarter worth about $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage during the 3rd quarter worth approximately $27,000. Bruce G. Allen Investments LLC grew its stake in Public Storage by 89.6% in the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 43 shares during the period. Wealth Watch Advisors INC bought a new position in Public Storage in the third quarter valued at approximately $34,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Public Storage during the second quarter worth $36,000. Institutional investors own 78.79% of the company's stock.
About Public Storage
(
Get Free Report)
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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