Public Storage (NYSE:PSA) Issues Quarterly Earnings Results, Misses Expectations By $0.02 EPS

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

Public Storage Trading Down 0.6 %

Public Storage stock traded down $1.86 during trading hours 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 stock has a market cap of $52.94 billion, a PE ratio of 31.39, a PEG ratio of 4.91 and a beta of 0.74. The company has a fifty day simple moving average of $298.12 and a 200-day simple moving average of $325.59. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the sale, the insider now owns 2,364 shares in the company, valued at $751,728.36. The trade was 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 link. 11.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.