Public Storage (NYSE:PSA) Price Target Raised to $338.00

Public Storage (NYSE:PSA) had its price target boosted by JPMorgan Chase & Co. from $291.00 to $338.00 in a research note issued on Thursday,MarketScreener reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 3.45% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $341.00 price target on shares of Public Storage in a report on Wednesday, April 29th. William Blair set a $305.00 target price on shares of Public Storage in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research note on Tuesday, April 21st. Mizuho lifted their price target on shares of Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of Public Storage in a research note on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Public Storage presently has an average rating of “Hold” and an average price target of $319.28.

Public Storage Price Performance

Shares of Public Storage stock traded up $2.02 during midday trading on Thursday, reaching $326.73. The company had a trading volume of 170,031 shares, compared to its average volume of 1,123,490. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The stock has a fifty day simple moving average of $302.35 and a 200 day simple moving average of $288.50. Public Storage has a 1-year low of $256.54 and a 1-year high of $331.79. The company has a market capitalization of $57.36 billion, a price-to-earnings ratio of 33.78, a price-to-earnings-growth ratio of 4.41 and a beta of 0.98.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the company earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities research analysts forecast that Public Storage will post 16.92 earnings per share for the current year.

Institutional Trading of Public Storage

Several hedge funds have recently bought and sold shares of PSA. Rathbones Group PLC increased its position in shares of Public Storage by 3.5% during the first quarter. Rathbones Group PLC now owns 60,555 shares of the real estate investment trust’s stock worth $16,403,000 after acquiring an additional 2,056 shares in the last quarter. First Nebraska Trust Co bought a new stake in Public Storage in the 1st quarter valued at $2,983,000. Allen Capital Group LLC acquired a new position in Public Storage in the 1st quarter worth $229,000. Glenmede Trust Co. NA boosted its stake in Public Storage by 5.1% in the 1st quarter. Glenmede Trust Co. NA now owns 2,659 shares of the real estate investment trust’s stock worth $720,000 after purchasing an additional 130 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new position in Public Storage during the 1st quarter worth about $400,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.