Public Storage (NYSE:PSA) Issues Quarterly Earnings Results

Public Storage (NYSE:PSA) released its earnings results on Monday. The real estate investment trust reported $4.21 EPS for the quarter, missing analysts’ consensus estimates of $4.23 by ($0.02), Zacks reports. Public Storage had a return on equity of 34.07% and a net margin of 40.54%.

Public Storage Price Performance

Shares of PSA traded down $1.86 during mid-day trading on Monday, reaching $302.33. The stock had a trading volume of 1,062,609 shares, compared to its average volume of 641,178. The business has a fifty day moving average of $298.12 and a 200 day moving average of $325.59. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $52.94 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 4.91 and a beta of 0.74. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99.

Analyst Ratings Changes

PSA has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Barclays lowered their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Truist Financial lifted their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company dropped their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada decreased their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $341.85.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the transaction, the insider now owns 2,364 shares of the company’s stock, valued at $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.00% of the stock is owned by corporate insiders.

About Public Storage

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.