Public Storage (NYSE:PSA) Coverage Initiated by Analysts at Raymond James Financial

Raymond James Financial initiated coverage on shares of Public Storage (NYSE:PSA) in a research report issued on Thursday. The firm set a “market perform” rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on PSA. BNP Paribas Exane boosted their target price on Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Citigroup increased their price target on shares of Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Mizuho boosted their price objective on shares of Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Jefferies Financial Group upped their price objective on shares of Public Storage from $350.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, Public Storage has a consensus rating of “Hold” and a consensus price target of $325.37.

Public Storage Price Performance

Shares of Public Storage stock traded up $4.20 on Thursday, hitting $318.88. 30,897 shares of the company traded hands, compared to its average volume of 1,098,011. Public Storage has a 12-month low of $256.54 and a 12-month high of $331.79. 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 company has a market cap of $55.98 billion, a P/E ratio of 32.93, a P/E/G ratio of 4.29 and a beta of 0.96. The firm’s 50-day simple moving average is $313.82 and its 200 day simple moving average is $297.33.

Public Storage (NYSE:PSA) last announced its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the business earned $4.12 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Analysts expect that Public Storage will post 16.94 earnings per share for the current fiscal year.

Insider Activity

In other 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 transaction of $308,569.50. Following the completion of the transaction, the insider directly owned 1,414 shares of the company’s stock, 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 hyperlink. Insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Bayban bought a new stake in shares of Public Storage in the 4th quarter worth approximately $26,000. Harvest Fund Management Co. Ltd bought a new position in shares of Public Storage during the third quarter valued at approximately $27,000. Wealth Watch Advisors INC purchased a new stake in Public Storage in the third quarter worth $34,000. Raiffeisen Bank International AG lifted its stake in 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 worth $37,000 after acquiring an additional 37 shares during the period. Finally, Knuff & Co LLC bought a new stake in Public Storage in the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

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.