Public Storage (PSA) Scheduled to Post Quarterly Earnings on Tuesday

Public Storage (NYSE:PSA) will be issuing its quarterly earnings data after the market closes on Tuesday, July 30th. Analysts expect the company to announce earnings of $4.22 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Public Storage Trading Up 2.0 %

PSA stock opened at $300.74 on Monday. The company has a market capitalization of $52.85 billion, a PE ratio of 27.32, a P/E/G ratio of 4.38 and a beta of 0.65. Public Storage has a 12 month low of $233.18 and a 12 month high of $314.93. The firm’s 50-day moving average is $286.65 and its 200 day moving average is $282.42. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.54.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Wednesday, June 12th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.99%. The ex-dividend date was Wednesday, June 12th. Public Storage’s dividend payout ratio is presently 108.99%.

Wall Street Analyst Weigh In

PSA has been the topic of several recent analyst reports. Wells Fargo & Company raised their price target on shares of Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a research note on Friday. Scotiabank raised their target price on shares of Public Storage from $289.00 to $314.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. Evercore ISI raised their target price on shares of Public Storage from $289.00 to $300.00 and gave the company an “in-line” rating in a research report on Monday, July 15th. Finally, Barclays cut their target price on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and an average price target of $310.55.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 400 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $274.29, for a total value of $109,716.00. Following the sale, the insider now directly owns 3,214 shares in the company, valued at approximately $881,568.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kristy Pipes purchased 2,149 shares of the stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average cost of $278.96 per share, for a total transaction of $599,485.04. Following the acquisition, the director now owns 2,149 shares of the company’s stock, valued at $599,485.04. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nathaniel A. Vitan sold 400 shares of Public Storage stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $274.29, for a total transaction of $109,716.00. Following the completion of the sale, the insider now owns 3,214 shares of the company’s stock, valued at $881,568.06. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Public Storage 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 December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 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 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.