Royal Bank Of Canada Reaffirms “Sector Perform” Rating for Public Storage (NYSE:PSA)

Public Storage (NYSE:PSA)‘s stock had its “sector perform” rating reiterated by research analysts at Royal Bank Of Canada in a report released on Tuesday, Benzinga reports. They presently have a $318.00 target price on the real estate investment trust’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 5.56% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Weiss Ratings cut shares of Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Mizuho upped their price objective on shares of Public Storage from $316.00 to $319.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. Evercore set a $308.00 price objective on shares of Public Storage in a research note on Monday, September 21st. Wells Fargo & Company set a $311.00 price objective on shares of Public Storage in a research note on Tuesday, September 1st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Public Storage from $338.00 to $330.00 and set a “neutral” rating on the stock in a research note on Monday, September 21st. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $323.42.

Public Storage Price Performance

NYSE PSA traded up $5.57 on Tuesday, reaching $301.26. The company’s stock had a trading volume of 96,121 shares, compared to its average volume of 1,056,762. The firm has a market cap of $52.91 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 4.45 and a beta of 0.94. The business has a 50-day moving average price of $301.07 and a 200 day moving average price of $307.68. Public Storage has a 52 week low of $256.54 and a 52 week high of $335.55. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06.

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 analysts’ consensus estimates of $2.53 by $1.64. The business had revenue of $1.23 billion for 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%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Sell-side analysts expect that Public Storage will post 16.93 EPS for the current year.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Public Storage

Hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Public Storage by 7.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 66,530 shares of the real estate investment trust’s stock worth $18,817,000 after buying an additional 4,542 shares during the period. CWA Asset Management Group LLC boosted its holdings in shares of Public Storage by 0.9% during the 3rd quarter. CWA Asset Management Group LLC now owns 40,319 shares of the real estate investment trust’s stock worth $11,404,000 after buying an additional 351 shares during the period. Maia Wealth LLC boosted its holdings in shares of Public Storage by 23.5% during the 3rd quarter. Maia Wealth LLC now owns 2,352 shares of the real estate investment trust’s stock worth $665,000 after buying an additional 447 shares during the period. Novem Group boosted its holdings in shares of Public Storage by 2.1% during the 3rd quarter. Novem Group now owns 3,581 shares of the real estate investment trust’s stock worth $1,013,000 after buying an additional 75 shares during the period. Finally, Abel Hall LLC bought a new stake in shares of Public Storage during the 3rd quarter worth about $460,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Company Profile

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.