Public Storage (NYSE:PSA) Price Target Raised to $345.00 at Scotiabank

Public Storage (NYSE:PSA) had its target price increased by research analysts at Scotiabank from $342.00 to $345.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s target price points to a potential upside of 6.79% from the company’s current price.

PSA has been the topic of a number of other research reports. Royal Bank Of Canada increased their price objective on shares of Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Truist Financial upped their price target on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Evercore set a $316.00 price target on Public Storage in a research report on Monday. UBS Group reiterated a “neutral” rating on shares of Public Storage in a research note on Monday, June 22nd. Finally, Jefferies Financial Group upped their target price on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, Public Storage has a consensus rating of “Hold” and a consensus price target of $324.74.

Public Storage Stock Performance

NYSE PSA traded down $5.62 during trading hours on Wednesday, reaching $323.07. The stock had a trading volume of 120,589 shares, compared to its average volume of 1,106,550. The stock has a fifty day moving average of $311.64 and a 200 day moving average of $294.86. The stock has a market cap of $56.72 billion, a P/E ratio of 33.38, a price-to-earnings-growth ratio of 4.36 and a beta of 0.96. Public Storage has a 52-week low of $256.54 and a 52-week high of $331.79. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the firm posted $4.12 EPS. Public Storage’s revenue for the quarter was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Sell-side analysts predict that Public Storage will post 16.94 earnings per share for the current year.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the transaction, the insider owned 1,414 shares in the company, valued at approximately $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Public Storage

Institutional investors and hedge funds have recently modified their holdings of the business. Harvest Fund Management Co. Ltd acquired a new position in Public Storage in the 3rd quarter worth about $27,000. Bayban acquired a new stake in Public Storage in the fourth quarter valued at approximately $26,000. Wealth Watch Advisors INC purchased a new stake in shares of Public Storage in the third quarter valued at approximately $34,000. Raiffeisen Bank International AG increased its position in shares of Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 37 shares in the last quarter. Finally, Knuff & Co LLC acquired a new position in shares of Public Storage during the 4th quarter worth approximately $38,000. 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 (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.