Citigroup Reiterates Buy Rating on Public Storage
Citigroup maintains a 'buy' rating on Public Storage, setting a $363 price target.
Key Points
- Citigroup reiterated its buy rating for Public Storage (NYSE: PSA) on June 16, 2026, with a price target of $363.
- Public Storage shares are trading at $320.98, with a market cap of $56.4 billion and a P/E ratio of 33.1.
- The company offers a 3.74% dividend yield, and recent insider activity includes both buying and selling.
Citigroup has reiterated its 'buy' rating on Public Storage (NYSE: PSA), setting a price target of $363. This update came from analyst Nick Joseph on June 16, 2026. Public Storage's stock was trading at $320.98 at the time.
Public Storage Stock Snapshot
Shares of NYSE:PSA are trading near $320.98. Public Storage, a major player in the self-storage industry, has a market cap of approximately $56.4 billion. The company's stock has a P/E ratio of 33.1 and a forward P/E of 30.6. Over the past 52 weeks, the stock has ranged from $256.54 to $331.79. It has a 50-day moving average of $304.27 and a 200-day moving average of $288.96. The company carries a beta of 0.963, indicating moderate volatility relative to the market.
Recent Earnings
Public Storage reported revenue of about $4.87 billion, with a growth rate of 3.2%. The company's net margin stands at 39.1%, and it has a return on equity of 20.2%. The next earnings release is scheduled for July 29, 2026.
Dividend
Public Storage offers an annual dividend rate of $12.00, yielding 3.74% at current prices. The dividend payout ratio is 123.97%, reflecting the company's commitment to returning earnings to shareholders.
Insider Buying and Selling at Public Storage
Recent insider transactions include a sale by Chief Legal Officer Nathaniel Vitan, who sold 950 shares at an average price of $324.81 on June 12, 2026. On May 6, 2026, several insiders, including Tamara Hughes Gustavson and Kristy Pipes, each acquired 3,232 shares, though specific transaction prices were not disclosed.
Analysts Set New Price Targets
On June 16, 2026, Citigroup maintained its 'buy' rating and set a $363 price target for Public Storage. Other analysts also weighed in recently. Mizuho and UBS both maintained 'hold' ratings with targets of $316 and $314, respectively. Barclays reiterated a 'buy' rating with a target of $349 on May 7, 2026. The consensus among analysts is a 'buy' rating with a mean price target of $322.19 based on 16 opinions.
About Public Storage
Public Storage, headquartered in Frisco, TX, is a leading real estate investment trust (REIT) focusing on self-storage facilities. As of March 31, 2026, the company owned and operated 3,546 self-storage facilities across the U.S., with approximately 259 million net rentable square feet. Additionally, it holds a 35% equity interest in Shurgard Self Storage Limited, which operates 333 facilities across seven Western European countries. Founded in 1972, Public Storage continues to expand its footprint in the storage industry.
Bottom Line
Citigroup's reiterated 'buy' rating with a $363 target reflects confidence in Public Storage's performance and growth prospects. Investors often track such analyst updates for insights into potential stock movements. However, it's important to remember that these assessments are based on past data and may not represent future performance.
See Also
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