Public Storage. (NYSE:PSA) price on current trading day, fall -2.15% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $345.40.
A look at the stock’s price movement, the close in the last trading session was $353.00, moving within a range at $343.5242 and $349.32. The beta value (5-Year monthly) was 0.672 while the PE ratio in trailing twelve months stood at 32.34. Turning to its 52-week performance, $369.99 and $233.18 were the 52-week high and 52-week low respectively. Overall, PSA moved 1.24% over the past month.
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Public Storage.’s market cap currently stands at around $60.45 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Oct-28. The company has a Forward Dividend ratio of 12.00, with its dividend yield at 3.47%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 1.18B for the company’s revenue for the quarter, with a low and high estimate of 1.1B and 1.21B respectively. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.64B, representing a 2.80% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PSA is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 3 recommend PSA as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PSA’s current price about -3.62% and 2.74% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 44.14, while 7-day volatility ratio is 2.02% and 1.87% in the 30-day chart. Further, Public Storage. (PSA) has a beta value of 0.70, and an average true range (ATR) of 6.92. Analysts have given the company’s stock an average 52-week price target of $330, forecast between a low of $306 and high of $378. Looking at the price targets, the low is 11.41% off current price level while to achieve the yearly target high, price needs to move -9.44%. Nonetheless, investors will most likely welcome a 4.46% jump to $330 which is the analysts’ median price.
If we refocus on Public Storage. (NYSE:PSA), historical trading data shows that trading volumes averaged 0.89 over the past 10 days and 709.42K over the past 3 months. The company’s latest data on shares outstanding shows there are 175.67 million shares.
The 10.24% of Public Storage.’s shares are in the hands of company insiders while institutional holders own 80.33% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.69 million on 2024-09-13, giving us a short ratio of 5.7. The data shows that as of 2024-09-13 short interest in Public Storage. (PSA) stood at 270.0 of shares outstanding, with shares short rising to 3.09 million registered in 2024-08-15. Current price change has pushed the stock 13.25% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PSA stock continues to rise going into the next quarter.
