Public Storage (NYSE:PSA) Given New $345.00 Price Target at Scotiabank

Public Storage (NYSE:PSA) had its price target raised by research analysts at Scotiabank from $342.00 to $345.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s target price would indicate a potential upside of 6.79% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings upgraded Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Evercore set a $316.00 target price on shares of Public Storage in a report on Monday. UBS Group reissued a “neutral” rating on shares of Public Storage in a research report on Monday, June 22nd. Royal Bank Of Canada raised their price target on shares of Public Storage from $301.00 to $305.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Finally, William Blair set a $305.00 price objective on shares of Public Storage in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $324.74.

Public Storage Stock Down 1.7%

NYSE:PSA traded down $5.62 during trading hours on Wednesday, reaching $323.07. The company’s stock had a trading volume of 120,589 shares, compared to its average volume of 1,106,550. The company has a market capitalization of $56.72 billion, a P/E ratio of 33.38, a price-to-earnings-growth ratio of 4.36 and a beta of 0.96. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a 50 day moving average price of $311.64 and a two-hundred day moving average price of $294.86.

Public Storage (NYSE:PSA) last posted its 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 return on equity of 37.78% and a net margin of 39.16%.The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business earned $4.12 earnings per share. Public Storage’s revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities analysts predict that Public Storage will post 16.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider owned 1,414 shares of the company’s stock, valued at approximately $459,281.34. This trade represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Public Storage

Several hedge funds and other institutional investors have recently modified their holdings of PSA. Harvest Fund Management Co. Ltd purchased a new stake in Public Storage during the 3rd quarter worth approximately $27,000. Bayban acquired a new stake in shares of Public Storage during the fourth quarter worth $26,000. Wealth Watch Advisors INC acquired a new stake in shares of Public Storage during the third quarter worth $34,000. Raiffeisen Bank International AG grew its holdings in shares of Public Storage by 35.2% during the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 37 shares during the last quarter. Finally, Knuff & Co LLC purchased a new stake in shares of Public Storage during the fourth quarter valued at $38,000. 78.79% of the stock is owned by hedge funds and other 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.