Brokerages Set Public Storage (NYSE:PSA) Price Target at $344.54

Shares of Public Storage (NYSE:PSA) have earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $344.54.

PSA has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Evercore ISI reduced their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Barclays dropped their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada reduced their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Finally, Wells Fargo & Company dropped their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th.

Insider Activity

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’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 sale, the insider now directly owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in Public Storage during the second quarter worth approximately $2,442,000. Czech National Bank boosted its stake in shares of Public Storage by 6.5% during the 3rd quarter. Czech National Bank now owns 32,087 shares of the real estate investment trust’s stock worth $11,675,000 after acquiring an additional 1,950 shares during the period. GAMMA Investing LLC increased its holdings in shares of Public Storage by 38.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,532 shares of the real estate investment trust’s stock worth $557,000 after acquiring an additional 425 shares during the last quarter. Diversified Trust Co raised its stake in Public Storage by 774.0% in the 3rd quarter. Diversified Trust Co now owns 7,429 shares of the real estate investment trust’s stock valued at $2,703,000 after acquiring an additional 6,579 shares during the period. Finally, Miracle Mile Advisors LLC acquired a new stake in Public Storage during the 3rd quarter valued at $283,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Up 0.3 %

NYSE:PSA opened at $303.40 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50-day simple moving average is $304.09 and its 200-day simple moving average is $325.80. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The stock has a market capitalization of $53.13 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 4.88 and a beta of 0.74.

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.