Public Storage (NYSE:PSA - Get Free Report) had its price objective lowered by investment analysts at Wells Fargo & Company from $375.00 to $365.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective suggests a potential upside of 7.16% from the company's current price.
A number of other analysts have also recently issued reports on the company. Barclays boosted their target price on Public Storage from $374.00 to $381.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Jefferies Financial Group boosted their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Citigroup raised their target price on shares of Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Scotiabank upped their price target on shares of Public Storage from $308.00 to $339.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 22nd. Finally, Truist Financial lowered Public Storage from a "buy" rating to a "hold" rating and set a $306.00 price objective on the stock. in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $340.71.
View Our Latest Research Report on Public Storage
Public Storage Trading Up 2.4 %
Public Storage stock traded up $8.04 during midday trading on Tuesday, reaching $340.60. The stock had a trading volume of 626,404 shares, compared to its average volume of 711,718. The stock's 50-day simple moving average is $347.51 and its 200 day simple moving average is $310.54. Public Storage has a twelve month low of $241.60 and a twelve month high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $59.61 billion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 4.56 and a beta of 0.70.
Institutional Trading of Public Storage
A number of hedge funds and other institutional investors have recently made changes to their positions in PSA. Janney Montgomery Scott LLC grew its holdings in Public Storage by 33.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 33,679 shares of the real estate investment trust's stock worth $9,769,000 after acquiring an additional 8,391 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Public Storage by 91.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 692 shares of the real estate investment trust's stock worth $201,000 after purchasing an additional 331 shares in the last quarter. Larson Financial Group LLC increased its holdings in Public Storage by 138.1% in the first quarter. Larson Financial Group LLC now owns 688 shares of the real estate investment trust's stock valued at $200,000 after buying an additional 399 shares during the last quarter. Oxbow Advisors LLC raised its stake in Public Storage by 24.3% during the first quarter. Oxbow Advisors LLC now owns 1,197 shares of the real estate investment trust's stock valued at $347,000 after buying an additional 234 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Public Storage by 5.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,563 shares of the real estate investment trust's stock worth $1,324,000 after buying an additional 246 shares during the last quarter. Institutional investors own 78.79% of the company's stock.
About Public Storage
(
Get Free Report)
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.
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