Royal Bank Of Canada Reaffirms “Sector Perform” Rating for Public Storage (NYSE:PSA)

Public Storage (NYSE:PSA)‘s stock had its “sector perform” rating reaffirmed by Royal Bank Of Canada in a report released on Tuesday, Benzinga reports. They currently have a $318.00 target price on the real estate investment trust’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 5.76% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. lowered their price objective on Public Storage from $338.00 to $330.00 and set a “neutral” rating on the stock in a research report on Monday, September 21st. Raymond James Financial assumed coverage on Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating on the stock. Truist Financial assumed coverage on Public Storage in a research report on Friday, October 2nd. They issued a “buy” rating and a $317.00 price objective on the stock. Weiss Ratings downgraded Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Finally, Wells Fargo & Company set a $311.00 price objective on Public Storage in a research report on Tuesday, September 1st. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $323.42.

Public Storage Stock Performance

Shares of PSA traded up $4.98 during trading hours on Tuesday, hitting $300.67. The company’s stock had a trading volume of 173,980 shares, compared to its average volume of 1,057,213. The company has a market cap of $52.80 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 4.45 and a beta of 0.94. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. The business has a 50 day simple moving average of $301.07 and a two-hundred day simple moving average of $307.68. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 EPS for the quarter, topping the consensus estimate of $2.53 by $1.64. Public Storage had a return on equity of 40.98% and a net margin of 41.80%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the company earned $4.28 EPS. The firm’s revenue was down .5% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. On average, equities analysts expect that Public Storage will post 16.93 earnings per share for the current fiscal year.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.10% of the stock is owned by insiders.

Institutional Trading of Public Storage

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC bought a new stake in shares of Public Storage in the 2nd quarter valued at about $195,808,000. Nykredit A S bought a new stake in shares of Public Storage in the 2nd quarter valued at about $17,378,000. PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in shares of Public Storage by 15.6% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 26,610 shares of the real estate investment trust’s stock valued at $8,470,000 after acquiring an additional 3,588 shares during the last quarter. Greenland Capital Management LP lifted its stake in shares of Public Storage by 300.0% in the 2nd quarter. Greenland Capital Management LP now owns 6,600 shares of the real estate investment trust’s stock valued at $2,101,000 after acquiring an additional 4,950 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in shares of Public Storage by 25.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 16,577 shares of the real estate investment trust’s stock valued at $5,277,000 after acquiring an additional 3,343 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.