BMO Capital Markets Forecasts Strong Price Appreciation for Public Storage (NYSE:PSA) Stock

Public Storage (NYSE:PSA) had its price target lifted by equities researchers at BMO Capital Markets from $305.00 to $340.00 in a report released on Monday,MarketScreener reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target would indicate a potential upside of 4.83% from the company’s previous close.

Several other research firms have also recently issued reports on PSA. Mizuho boosted their target price on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price objective on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a report on Thursday. Scotiabank upped their price objective on shares of Public Storage from $321.00 to $340.00 in a research report on Monday, May 11th. Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, BNP Paribas Exane raised their target price on Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $321.22.

Public Storage Stock Performance

Public Storage stock traded down $1.61 during midday trading on Monday, hitting $324.33. 57,482 shares of the company were exchanged, compared to its average volume of 1,120,624. The business has a fifty day simple moving average of $303.33 and a two-hundred day simple moving average of $288.90. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $56.94 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 4.44 and a beta of 0.98. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $331.79.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the company posted $4.12 earnings per share. Public Storage’s revenue for the quarter was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, sell-side analysts forecast that Public Storage will post 16.92 earnings per share for the current year.

Hedge Funds Weigh In On Public Storage

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

About Public Storage

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.