Public Storage (NYSE:PSA) Price Target Raised to $317.00

Public Storage (NYSE:PSA) had its target price lifted by Evercore from $306.00 to $317.00 in a report released on Monday,MarketScreener reports. Evercore’s price objective indicates a potential upside of 2.03% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research report on Tuesday, April 21st. Royal Bank Of Canada upped their price objective on Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Scotiabank upped their price target on Public Storage from $321.00 to $340.00 in a research report on Monday, May 11th. Finally, UBS Group raised their price objective on Public Storage from $276.00 to $314.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $316.67.

Public Storage Stock Up 0.3%

Shares of PSA traded up $1.00 during trading on Monday, reaching $310.68. The company’s stock had a trading volume of 41,041 shares, compared to its average volume of 1,120,324. The company has a fifty day moving average of $298.08 and a two-hundred day moving average of $287.01. Public Storage has a twelve month low of $256.54 and a twelve month high of $313.51. The company has a market cap of $54.54 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 4.22 and a beta of 0.98. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company earned $4.12 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, sell-side analysts predict that Public Storage will post 16.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Public Storage

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bayban purchased a new position in shares of Public Storage during the fourth quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd purchased a new stake in Public Storage in the 3rd quarter valued at $27,000. Raiffeisen Bank International AG bought a new position in Public Storage during the 3rd quarter valued at $30,000. Wealth Watch Advisors INC purchased a new position in Public Storage during the 3rd quarter worth $34,000. Finally, Knuff & Co LLC bought a new stake in shares of Public Storage in the 4th quarter worth $38,000. 78.79% of the stock is owned by institutional investors.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.