The price of Public Storage (NYSE:PSA) shares last traded on Wall Street rose 2.95% to $286.98.
Based on available information, 14 analysts follow Public Storage (NYSE:PSA). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $367.00 and a low of $309.00, we find $336.50. Given the previous closing price of $278.77, this indicates a potential upside of 20.71 percent. PSA stock price is now -0.55% away from the 50-day moving average and -1.83% away from the 200-day moving average. The market capitalization of the company currently stands at $51.67B.
Among analysts, 5 rate the stock a hold while 8 rate it a buy. Brokers who have rated the stock have averaged $340.00 as their price target over the next twelve months.
In other news, RUSSELL JOSEPH D JR, President and CEO bought 2,500 shares of the company’s stock on Dec 12. The stock was bought for $744,137 at an average price of $297.65. Upon completion of the transaction, the President and CEO now directly owns 45,982 shares in the company, valued at $13.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 22, Director GUSTAVSON TAMARA HUGHES sold 203 shares of the business’s stock. A total of $70,561 was realized by selling the stock at an average price of $348.29. Insiders disposed of 191,052 shares of company stock worth roughly $54.83 million over the past 1 year. A total of 8.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PSA stock. A new stake in Public Storage shares was purchased by CAPITAL INTERNATIONAL INVESTORS during the first quarter worth $1,568,801,000. BALYASNY ASSET MANAGEMENT L.P. invested $45,200,000 in shares of PSA during the first quarter. In the first quarter, ALLSTATE INVESTMENT MANAGEMENT CO acquired a new stake in Public Storage valued at approximately $17,391,000. TIG ADVISORS, LLC acquired a new stake in PSA for approximately $8,079,000. JEFFERIES GROUP LLC purchased a new stake in PSA valued at around $7,783,000 in the second quarter. In total, there are 1,362 active investors with 81.10% ownership of the company’s stock.
A candlestick chart of Public Storage (NYSE: PSA) showed a price of $286.18 on Thursday morning. During the past 12 months, Public Storage has had a low of $270.13 and a high of $357.12. According to the stock market information, the enterprise value for the company is $59.67B, which is based on a 12.20 price-to-earnings ratio, a 0.72 price-to-earnings-growth ratio, and a beta of 0.47. The fifty day moving average price for PSA is $288.61 and a two-hundred day moving average price translates $292.36 for the stock.
The latest earnings results from Public Storage (NYSE: PSA) was released for Jun, 2023. According to the REIT – Industrial Company, earnings per share came in at $3, beating analysts’ expectations of $2.91 by 0.09. This compares to $3.42 EPS in the same period last year. The net profit margin was 96.30% and return on equity was 73.00% for PSA. The company reported revenue of $1.12 billion for the quarter, compared to $1.03 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 8.5 percent. For the current quarter, analysts expect PSA to generate $1.15B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/28/2023. Investors who held shares on 09/13/2023 were paid a $3.00 dividend. On an annualized basis, this represents a $12.00 dividend and a 4.18% percent yield. There was an ex-dividend date of 09/12/2023 for this dividend. In terms of dividend payout ratio, PSA is presently at 38.10%.
Public Storage(PSA) Company Profile
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 March 31, 2023, we had: (i) interests in 2,877 self-storage facilities located in 40 states with approximately 205 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels:SHUR), which owned 266 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand. Our headquarters are located in Glendale, California.
