Public Storage (NYSE:PSA) Price Target Raised to $340.00

Public Storage (NYSE:PSA) had its price target raised by research analysts at BMO Capital Markets from $305.00 to $340.00 in a research report issued on Monday,MarketScreener reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price indicates a potential upside of 4.83% from the company’s previous close.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. upped their target price on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research report on Thursday. Evercore raised their price target on Public Storage from $306.00 to $317.00 in a report on Monday, June 8th. UBS Group boosted their price target on Public Storage from $276.00 to $314.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Royal Bank Of Canada upped their price objective 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, The Goldman Sachs Group reiterated a “buy” rating and issued a $341.00 target price on shares of Public Storage in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of “Hold” and an average price target of $321.22.

Public Storage Stock Down 0.5%

Shares of NYSE PSA traded down $1.61 during trading hours on Monday, hitting $324.33. 57,482 shares of the stock were exchanged, compared to its average volume of 1,120,624. Public Storage has a 12 month low of $256.54 and a 12 month high of $331.79. The firm has a fifty day moving average price of $303.33 and a 200-day moving average price of $288.90. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.02. The company has a market cap of $56.94 billion, a PE ratio of 33.44, a PEG ratio of 4.44 and a beta of 0.98.

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 (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the company earned $4.12 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, sell-side analysts expect that Public Storage will post 16.92 EPS for the current year.

Institutional Investors Weigh In On Public Storage

Institutional investors and hedge funds have recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new stake in Public Storage during the 3rd quarter valued at approximately $27,000. Bayban acquired a new stake in shares of Public Storage in the fourth quarter worth $26,000. Raiffeisen Bank International AG purchased a new position in shares of Public Storage during the third quarter worth $30,000. Wealth Watch Advisors INC acquired a new position in Public Storage during the third quarter valued at $34,000. Finally, Knuff & Co LLC acquired a new position in Public Storage during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Company Profile

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.