Public Storage’s (PSA) “Sector Perform” Rating Reaffirmed at Royal Bank Of Canada

Public Storage (NYSE:PSA)‘s stock had its “sector perform” rating restated by research analysts at Royal Bank Of Canada in a report issued on Tuesday, Benzinga reports. They presently have a $318.00 price target on the real estate investment trust’s stock. Royal Bank Of Canada‘s price target would indicate a potential upside of 5.36% from the company’s current price.

PSA has been the topic of a number of other reports. Evercore set a $308.00 target price on Public Storage in a research report on Monday, September 21st. Weiss Ratings cut Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, October 8th. UBS Group reduced their price objective on Public Storage from $326.00 to $294.00 and set a “neutral” rating on the stock in a research note on Friday. Mizuho upped their price objective on Public Storage from $316.00 to $319.00 and gave the stock a “neutral” rating in a report on Wednesday, September 2nd. Finally, Scotiabank lowered their target price on Public Storage from $346.00 to $343.00 and set a “sector outperform” rating for the company in a research report on Wednesday, September 2nd. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $323.42.

Public Storage Price Performance

Shares of PSA stock traded up $6.12 during mid-day trading on Tuesday, hitting $301.81. The company had a trading volume of 646,403 shares, compared to its average volume of 1,059,635. Public Storage has a 52-week low of $256.54 and a 52-week high of $335.55. The stock’s 50 day moving average price is $301.07 and its 200-day moving average price is $307.68. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $53.00 billion, a P/E ratio of 28.80, a P/E/G ratio of 4.45 and a beta of 0.94.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating the consensus estimate of $2.53 by $1.64. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Public Storage had a net margin of 41.80% and a return on equity of 40.98%. Public Storage’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Equities research analysts forecast that Public Storage will post 16.93 earnings per share for the current year.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Public Storage

A number of institutional investors have recently modified their holdings of PSA. Hsbc Holdings PLC acquired a new position in shares of Public Storage during the second quarter valued at about $195,808,000. Nykredit A S acquired a new stake in Public Storage in the 2nd quarter worth approximately $17,378,000. PensionDanmark Pensionsforsikringsaktieselskab grew its position in Public Storage by 15.6% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 26,610 shares of the real estate investment trust’s stock worth $8,470,000 after purchasing an additional 3,588 shares during the last quarter. Greenland Capital Management LP increased its stake in Public Storage by 300.0% during the 2nd quarter. Greenland Capital Management LP now owns 6,600 shares of the real estate investment trust’s stock valued at $2,101,000 after purchasing an additional 4,950 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its stake in Public Storage by 25.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 16,577 shares of the real estate investment trust’s stock valued at $5,277,000 after purchasing an additional 3,343 shares in the last quarter. 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 focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.