Public Storage (PSA) Price Target: Is It Set To Rise Or Fall In Price?

Public Storage (NYSE:PSA) finished Friday with an addition of $3.82 to close at $326.33, an upside of 1.18 percent. An average of 484,300 shares of common stock have been traded in the last five days. There was a gain of $6.91 in the past week, and it reached a new high 54 times over the past 12 months. The last 20 days have seen an average of 659,165 shares traded, while the 50-day average volume stands at 654,504.

PSA stock has increased by 6.85% in the last month. The company shares reached their 1-month lowest point of $292.32 on 09/28/21. With the stock rallying to its 52-week high on 09/08/21, shares of the company touched a low of $212.22 and a high of $332.95 in 52 weeks. It has reached a new high 57 times so far this year and achieved 41.31% or $95.40 in price. In spite of this, the price is down -1.99% from the 52-week high.


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Insider Transactions

61 days have passed since Public Storage (PSA) last reported insider trading activity. REYES JOHN, who is Director, most recently acquired $50,000 shares at $321.97 per share on Aug 23. In this transaction, the insider spent $16,098,500. Director, STONE HEISZ LESLIE, disposed of 3,957 shares at a price of $323.70 on Aug 20. The insider now owns more than $1,280,881 worth of shares. Prior to that, Chief Legal Officer Vitan Nathaniel A. went on to Sale 483 shares at $314.07 each on Aug 12. An amount of $151,696 was transacted.

Valuation Metrics

Public Storage (PSA) has a trailing price-to-earnings (P/E) ratio of 44.92, which compares with the 21.25 for the broader industry and 39.54 for the sector. In the last five years, Public Storage’s PE ratio has ranged between 45.60 and 22.03. The stock’s beta is 0.17. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 18.90, the price-to-book (PB) ratio at 11.71, and the price-to-cash flow ratio at 97.33.

Public Storage pays a $8.00 dividend per share annually. It offers a dividend yield of 2.45%. The company has a payout ratio of 109.90%. The company’s most recent quarterly dividend payment took place on Sep. 30, and it was $2.00 a share, without any change from last year. Its dividend has been increased for the last 1 year with the latest increase dividend $0.20 reported on Wednesday October 26 2016.

Further, the company has a long term debt to equity ratio of 1.09 and a total debt to equity ratio of 1.09 for the quarter ending June 29. Its gross profit as reported stood at $1.41 billion compared to revenue of $2.92 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Public Storage’s return on assets was 10.20%. For the broader industry, ROE averaged 7.37 over the past year.

Earnings Surprise

For the three-month period that ended June 29, Public Storage had $5.0 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $346.25 million in the quarter, while revenues of $385.81 million were grew 28.92%. The analyst consensus anticipated Public Storage’s latest quarter earnings to come in at $1.87 per share, but it turned out to be $1.97, a 5.30% surprise. For the quarter, EBITDA amounted to $582.99 million. At the end of the quarter ending June 29, Public Storage’s stock balance sheet showed total debt was $5.0 billion. Shareholders own equity worth $175.23 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Public Storage (PSA) price momentum. RSI 9-day as of the close on 22 October was 70.35%, suggesting the stock is Overbought, with historical volatility in this time frame at 22.38%.

As of today, PSA’s price is $322.90 +2.16% or $6.91 from its 5-day moving average. PSA is currently trading +7.39% higher than its 20-day SMA and +13.31% higher than its 100-day SMA. However, the stock’s current price level is +3.60% above the SMA50 and +50.07% above the SMA200.

The stochastic %K and %D were 90.09% and 86.56%, respectively, and the average true range (ATR) was 5.78. With the 14-day stochastic at 97.48% and the average true range at 5.87, the RSI (14) stands at 64.60%. The stock has reached 2.82 on the 9-day MACD Oscillator while the 14-day reading was at 10.30.

Analyst Ratings

Wolfe Research upgraded Public Storage (NYSE: PSA) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Peer perform. The consensus rating for Public Storage (PSA) among analysts is Hold. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PSA, while 13 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 3 others rate it as a “buy”.

What is PSA’s price target for the next 12 months?

Analysts predict a range of price targets between $321.00 and $379.00, with a median target of $336.00. Taking a look at these predictions, the average price target given by analysts for Public Storage (PSA) stock is $340.71.

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