Public Storage (NYSE:PSA) Price Target Cut to $330.00 by Analysts at JPMorgan Chase & Co.

Public Storage (NYSE:PSA) had its price target trimmed by JPMorgan Chase & Co. from $338.00 to $330.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

PSA has been the subject of several other research reports. Mizuho upped their price target on Public Storage from $316.00 to $319.00 and gave the stock a “neutral” rating in a report on Wednesday, September 2nd. Scotiabank dropped their price objective on Public Storage from $346.00 to $343.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, September 2nd. Barclays lifted their price objective on shares of Public Storage from $350.00 to $351.00 and gave the stock an “equal weight” rating in a report on Thursday, September 10th. Royal Bank Of Canada upped their target price on shares of Public Storage from $305.00 to $318.00 and gave the stock a “sector perform” rating in a research note on Friday, July 31st. Finally, Citigroup increased their target price on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, Public Storage currently has an average rating of “Hold” and an average target price of $326.21.

Public Storage Stock Performance

NYSE PSA opened at $296.91 on Monday. The company has a fifty day simple moving average of $314.80 and a 200 day simple moving average of $307.36. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. The company has a market cap of $52.14 billion, a P/E ratio of 28.33, a PEG ratio of 4.03 and a beta of 0.95.

Public Storage (NYSE:PSA) last announced its quarterly earnings results 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 previous year, the business posted $4.28 EPS. Public Storage’s quarterly revenue was down .5% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Sell-side analysts predict that Public Storage will post 16.92 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The firm 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 dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Tuesday, September 15th. Public Storage’s dividend payout ratio (DPR) is 114.50%.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Public Storage

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Public Storage during the second quarter worth about $5,495,077,000. Norges Bank purchased a new position in Public Storage in the fourth quarter valued at about $1,163,751,000. Capital International Investors boosted its stake in Public Storage by 821.4% in the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after acquiring an additional 3,686,211 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Public Storage by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock valued at $1,056,976,000 after acquiring an additional 66,445 shares during the period. Finally, Cohen & Steers Inc. increased its stake in shares of Public Storage by 9.3% during the 4th quarter. Cohen & Steers Inc. now owns 3,993,623 shares of the real estate investment trust’s stock worth $1,036,375,000 after purchasing an additional 339,882 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

About Public Storage

Public Storage is a real estate investment trust that owns, operates and develops self-storage facilities in the United States. The company provides customers with storage units for household goods, business inventory, vehicles and other personal or commercial belongings.

Its facilities offer a range of unit sizes and may include features such as drive-up access, climate-controlled storage, electronic gate access and online account management. Public Storage also provides related services, including tenant insurance options and moving and packing supplies at select locations.

Founded in 1972 and headquartered in Glendale, California, Public Storage serves customers through a nationwide network of self-storage properties.