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

Public Storage (NYSE:PSA)‘s stock had its “sector perform” rating reissued by investment analysts at Royal Bank Of Canada in a research report issued on Tuesday, Benzinga reports. They presently have a $318.00 target price on the real estate investment trust’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 5.27% from the company’s previous close.

A number of other analysts have also commented on the stock. Wells Fargo & Company set a $311.00 target price on shares of Public Storage in a report on Tuesday, September 1st. Barclays increased their price target on Public Storage from $350.00 to $351.00 and gave the company an “equal weight” rating in a research note on Thursday, September 10th. Raymond James Financial initiated coverage on Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating on the stock. Weiss Ratings cut Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Finally, Evercore set a $308.00 price objective on Public Storage in a report on Monday, September 21st. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, Public Storage has a consensus rating of “Hold” and a consensus target price of $323.42.

Public Storage Trading Up 2.2%

NYSE:PSA traded up $6.38 on Tuesday, hitting $302.07. 207,698 shares of the stock were exchanged, compared to its average volume of 1,057,350. The stock has a market capitalization of $53.05 billion, a price-to-earnings ratio of 28.79, a P/E/G ratio of 4.45 and a beta of 0.94. Public Storage has a 52 week low of $256.54 and a 52 week high of $335.55. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. The company’s 50-day moving average price is $301.07 and its 200 day moving average price is $307.68.

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

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was 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 Securities & Exchange Commission, which is available through this link. 11.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Bruce G. Allen Investments LLC boosted its stake in shares of Public Storage by 89.6% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 43 shares during the period. Continuum Advisory LLC purchased a new stake in shares of Public Storage during the second quarter worth approximately $29,000. Meeder Asset Management Inc. purchased a new stake in shares of Public Storage during the second quarter worth approximately $36,000. Knuff & Co LLC purchased a new stake in shares of Public Storage during the second quarter worth approximately $46,000. Finally, SHP Wealth Management purchased a new stake in shares of Public Storage during the fourth quarter worth approximately $47,000. Institutional investors own 78.79% of the company’s stock.

About Public Storage

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.