Public Storage (NYSE:PSA) PT Raised to $320.00

Public Storage (NYSE:PSA) had its target price boosted by equities researchers at Wells Fargo & Company from $310.00 to $320.00 in a report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 8.51% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a research report on Thursday, March 28th. Evercore ISI boosted their price target on shares of Public Storage from $289.00 to $300.00 and gave the stock an “in-line” rating in a research note on Monday, July 15th. Scotiabank raised their price objective on Public Storage from $289.00 to $314.00 and gave the company a “sector perform” rating in a research report on Friday, July 19th. Finally, Barclays reduced their target price on Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a report on Monday, May 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.55.

Public Storage Stock Down 0.2 %

Shares of PSA opened at $294.91 on Friday. The business’s 50 day moving average is $286.41 and its 200 day moving average is $282.60. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59. Public Storage has a 12-month low of $233.18 and a 12-month high of $314.93. The company has a market capitalization of $51.82 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 4.31 and a beta of 0.65.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 400 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $274.29, for a total value of $109,716.00. Following the completion of the sale, the insider now directly owns 3,214 shares in the company, valued at $881,568.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Kristy Pipes acquired 2,149 shares of Public Storage stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average cost of $278.96 per share, with a total value of $599,485.04. Following the transaction, the director now directly owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nathaniel A. Vitan sold 400 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $274.29, for a total value of $109,716.00. Following the transaction, the insider now owns 3,214 shares of the company’s stock, valued at approximately $881,568.06. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Public Storage

Several hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James & Associates boosted its stake in shares of Public Storage by 4.3% during the fourth quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust’s stock valued at $34,917,000 after purchasing an additional 4,695 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Public Storage by 2.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 56,867 shares of the real estate investment trust’s stock valued at $17,344,000 after buying an additional 1,211 shares in the last quarter. Schechter Investment Advisors LLC boosted its position in Public Storage by 13.7% in the 4th quarter. Schechter Investment Advisors LLC now owns 1,308 shares of the real estate investment trust’s stock valued at $399,000 after buying an additional 158 shares during the period. Donald L. Hagan LLC grew its stake in Public Storage by 3.0% in the 4th quarter. Donald L. Hagan LLC now owns 3,056 shares of the real estate investment trust’s stock worth $932,000 after acquiring an additional 90 shares in the last quarter. Finally, Advocate Group LLC increased its position in shares of Public Storage by 5.8% during the fourth quarter. Advocate Group LLC now owns 20,100 shares of the real estate investment trust’s stock worth $6,131,000 after acquiring an additional 1,101 shares during the period. 78.79% of the stock is currently owned by hedge funds and other 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.