Public Storage (NYSE:PSA) Stock Rating Upgraded by Wells Fargo & Company

Public Storage (NYSE:PSA) was upgraded by research analysts at Wells Fargo & Company to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

Other equities analysts have also recently issued research reports about the company. Evercore set a $316.00 target price on Public Storage in a report on Monday, July 6th. Jefferies Financial Group lifted their price target on Public Storage from $350.00 to $355.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Citigroup increased their price objective on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. JPMorgan Chase & Co. raised their price objective on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Finally, Scotiabank lifted their target price on shares of Public Storage from $345.00 to $346.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 18th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $327.00.

Public Storage Stock Down 1.6%

PSA stock opened at $302.23 on Tuesday. The stock has a market capitalization of $53.08 billion, a P/E ratio of 28.84, a P/E/G ratio of 3.62 and a beta of 0.95. The firm has a 50-day simple moving average of $321.71 and a 200-day simple moving average of $307.78. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. 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 quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $1.64. The firm 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%. Public Storage’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company posted $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities analysts forecast that Public Storage will post 16.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 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 transaction of $463,127.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Public Storage

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC increased its stake in shares of Public Storage by 13.3% in the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after acquiring an additional 373 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Public Storage during the 2nd quarter valued at about $929,000. Nebula Research & Development LLC acquired a new position in shares of Public Storage during the 2nd quarter valued at about $1,113,000. Treasurer of the State of North Carolina boosted its position in shares of Public Storage by 1.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock valued at $21,647,000 after acquiring an additional 1,390 shares during the last quarter. Finally, Ieq Capital LLC grew its holdings in shares of Public Storage by 219.8% in the second quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock valued at $14,140,000 after purchasing an additional 33,122 shares during the period. Institutional investors and hedge funds 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.