JPMorgan Chase & Co. Has Lowered Expectations for Public Storage (NYSE:PSA) Stock Price

Public Storage (NYSE:PSA) had its price target reduced by analysts at JPMorgan Chase & Co. from $338.00 to $330.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 13.86% from the company’s current price.

A number of other equities analysts have also commented on PSA. UBS Group lifted their price target on shares of Public Storage from $314.00 to $326.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Truist Financial increased their price objective on 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 target price on Public Storage in a research report on Monday, July 6th. Barclays raised their target price on Public Storage from $350.00 to $351.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 10th. Finally, BMO Capital Markets upped their price target on Public Storage from $305.00 to $340.00 and gave the company a “market perform” rating in a research report on Monday, June 15th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, Public Storage currently has a consensus rating of “Hold” and an average price target of $326.21.

Public Storage Stock Performance

Public Storage stock opened at $289.82 on Monday. The business has a 50 day moving average of $314.21 and a 200-day moving average of $307.22. The company has a market capitalization of $50.90 billion, a P/E ratio of 27.65, a P/E/G ratio of 4.04 and a beta of 0.95. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66.

Public Storage (NYSE:PSA) last posted 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 net margin of 41.80% and a return on equity of 40.98%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period 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 research analysts predict that Public Storage will post 16.92 earnings per share for the current year.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Public Storage

Several hedge funds and other institutional investors have recently bought and sold shares of PSA. V Square Quantitative Management LLC lifted its position in shares of Public Storage by 2.2% during the first quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock worth $419,000 after purchasing an additional 34 shares in the last quarter. Nilsine Partners LLC grew its holdings in shares of Public Storage by 2.9% in the second quarter. Nilsine Partners LLC now owns 1,211 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 34 shares in the last quarter. Gryphon Financial Partners LLC grew its holdings in shares of Public Storage by 2.6% in the first quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 36 shares in the last quarter. Chesapeake Capital Corp IL increased its stake in Public Storage by 1.3% during the 2nd quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust’s stock worth $953,000 after buying an additional 38 shares during the period. Finally, Azzad Asset Management Inc. ADV increased its stake in Public Storage by 0.7% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,358 shares of the real estate investment trust’s stock worth $1,451,000 after buying an additional 39 shares during the period. 78.79% of the stock is owned by institutional investors.

About Public Storage

Public Storage is a real estate investment trust that owns, operates and develops self-storage facilities in the United States. The company provides customers with storage units for household goods, business inventory, vehicles and other personal or commercial belongings.

Its facilities offer a range of unit sizes and may include features such as drive-up access, climate-controlled storage, electronic gate access and online account management. Public Storage also provides related services, including tenant insurance options and moving and packing supplies at select locations.

Founded in 1972 and headquartered in Glendale, California, Public Storage serves customers through a nationwide network of self-storage properties.