Public Storage (NYSE:PSA) Receives Consensus Rating of "Moderate Buy" from Brokerages

Public Storage (NYSE:PSA - Get Free Report) has received an average recommendation of "Moderate Buy" from the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $344.54.

A number of brokerages recently issued reports on PSA. Barclays lowered their price target on Public Storage from $380.00 to $361.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Wells Fargo & Company cut their price target on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Truist Financial raised their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and upped their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada decreased their price target on Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research note on Friday, November 8th.

Public Storage Trading Down 0.1 %

NYSE PSA traded down $0.40 during trading hours on Tuesday, hitting $302.48. 420,567 shares of the company were exchanged, compared to its average volume of 696,143. The stock has a market cap of $52.97 billion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The stock has a 50-day moving average price of $305.00 and a 200 day moving average price of $325.44. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the transaction, the insider now directly owns 2,364 shares of the company's stock, valued at $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 11.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Public Storage

A number of hedge funds have recently bought and sold shares of PSA. Quent Capital LLC boosted its position in Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Public Storage during the third quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Public Storage in the 3rd quarter valued at about $38,000. Synergy Asset Management LLC purchased a new position in shares of Public Storage in the 4th quarter worth approximately $38,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of Public Storage during the 3rd quarter worth approximately $50,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Company Profile

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.