Deutsche Bank Aktiengesellschaft Upgrades Public Storage (NYSE:PSA) to "Hold"

Public Storage (NYSE:PSA - Get Free Report) was upgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Friday, MarketBeat reports. The firm currently has a $299.00 price objective on the real estate investment trust's stock, up from their prior price objective of $298.00. Deutsche Bank Aktiengesellschaft's price objective points to a potential upside of 3.59% from the stock's current price.

A number of other equities research analysts have also recently commented on PSA. Evercore ISI cut their price target on shares of Public Storage from $343.00 to $338.00 and set an "in-line" rating on the stock in a report on Monday, October 14th. Wells Fargo & Company reduced their target price on Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Truist Financial upped their price target on Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a report on Thursday, December 5th. Barclays reduced their price objective on Public Storage from $381.00 to $380.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. Finally, Jefferies Financial Group upped their target price on shares of Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $345.57.

Public Storage Stock Down 2.3 %

Public Storage stock traded down $6.81 during mid-day trading on Friday, reaching $288.65. The stock had a trading volume of 883,138 shares, compared to its average volume of 675,270. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a 50-day moving average price of $321.79 and a two-hundred day moving average price of $325.17. The company has a market capitalization of $50.55 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 5.29 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business's stock in a transaction 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 owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Graypoint LLC grew its stake in Public Storage by 7.5% in the 4th quarter. Graypoint LLC now owns 747 shares of the real estate investment trust's stock worth $224,000 after acquiring an additional 52 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Public Storage by 70.0% in the fourth quarter. Harbor Capital Advisors Inc. now owns 255 shares of the real estate investment trust's stock worth $76,000 after purchasing an additional 105 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Public Storage during the 4th quarter worth $7,849,000. Doliver Advisors LP raised its position in Public Storage by 2.6% during the 4th quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust's stock valued at $433,000 after purchasing an additional 36 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Public Storage by 1.6% in the 4th quarter. Nordea Investment Management AB now owns 12,738 shares of the real estate investment trust's stock worth $3,792,000 after buying an additional 200 shares during the period. 78.79% of the stock is currently owned by institutional investors.

About Public Storage

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.