BMO Capital Markets Cuts Public Storage (NYSE:PSA) Price Target to $305.00

by · The Cerbat Gem

Public Storage (NYSE:PSA – Free Report) had its price target lowered by BMO Capital Markets from $320.00 to $305.00 in a research note released on Monday,MarketScreener reports. BMO Capital Markets currently has a market perform rating on the real estate investment trust’s stock.

Other equities research analysts have also issued reports about the stock. Truist Financial cut their price target on shares of Public Storage from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. Scotiabank reduced their price objective on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research note on Thursday, August 28th. Royal Bank Of Canada decreased their price objective on Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a report on Friday, October 31st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $301.00 price target (down previously from $316.00) on shares of Public Storage in a research report on Thursday, December 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective on the stock in a research note on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $317.80.

Get Our Latest Report on Public Storage

Public Storage Stock Up 1.0%

NYSE:PSA traded up $2.53 during mid-day trading on Monday, hitting $261.96. The stock had a trading volume of 353,296 shares, compared to its average volume of 1,234,636. Public Storage has a twelve month low of $256.60 and a twelve month high of $322.49. The stock has a 50-day simple moving average of $277.99 and a two-hundred day simple moving average of $285.43. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $45.96 billion, a PE ratio of 27.20, a PEG ratio of 5.56 and a beta of 1.01.

Public Storage (NYSE:PSA – Get Free Report) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, equities research analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a dividend of $3.00 per share. The ex-dividend date is Monday, December 15th. This represents a $12.00 annualized dividend and a yield of 4.6%. Public Storage’s dividend payout ratio is currently 124.61%.

Institutional Trading of Public Storage

Large investors have recently added to or reduced their stakes in the stock. Marshall & Sullivan Inc. WA bought a new position in Public Storage in the second quarter worth about $25,000. Harbor Asset Planning Inc. acquired a new position in Public Storage during the 2nd quarter valued at approximately $25,000. First Pacific Financial bought a new position in Public Storage during the 3rd quarter worth $26,000. Harvest Fund Management Co. Ltd acquired a new stake in Public Storage in the third quarter worth $27,000. Finally, Asset Dedication LLC boosted its holdings in shares of Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 50 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Company Profile

(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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