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

Public Storage (NYSE:PSA) issued its quarterly earnings data on Monday. The real estate investment trust reported $4.21 earnings per share (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 updated its FY 2025 guidance to 16.350-17.000 EPS.

Public Storage Stock Performance

Shares of PSA opened at $302.33 on Tuesday. The stock has a 50 day moving average price of $297.86 and a 200 day moving average price of $325.51. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $52.94 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction that occurred on 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 directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank of Canada cut their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Barclays cut their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and boosted their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Truist Financial boosted their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. 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. Based on data from MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and a consensus target price 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.