Public Storage (NYSE:PSA) Stock Rating Upgraded by Wells Fargo & Company

Public Storage (NYSE:PSA) was upgraded by Wells Fargo & Company to a “hold” rating in a research note issued on Tuesday, Zacks reports.

A number of other brokerages have also commented on PSA. Citigroup upped their target price on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. JPMorgan Chase & Co. raised their price target on shares of Public Storage from $291.00 to $338.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Evercore set a $316.00 price objective on shares of Public Storage in a research note on Monday, July 6th. BNP Paribas Exane increased their price objective on shares of Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. Finally, Truist Financial raised their target price on shares of Public Storage from $302.00 to $338.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $327.00.

Public Storage Stock Performance

Shares of PSA opened at $302.23 on Tuesday. The stock has a 50-day moving average of $321.71 and a two-hundred day moving average of $307.78. Public Storage has a one year low of $256.54 and a one year high of $335.55. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market cap of $53.08 billion, a P/E ratio of 28.84, a P/E/G ratio of 3.62 and a beta of 0.95.

Public Storage (NYSE:PSA) last posted its quarterly 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 business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, research analysts predict that Public Storage will post 16.93 EPS 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 that occurred on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total value of $463,127.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Institutional Investors Weigh In On Public Storage

Hedge funds and other institutional investors have recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC raised its holdings in Public Storage by 25.3% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust’s stock worth $4,829,000 after purchasing an additional 3,763 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Public Storage in the second quarter valued at approximately $195,808,000. Nomura Asset Management Co. Ltd. increased its position in shares of Public Storage by 3.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 289,675 shares of the real estate investment trust’s stock valued at $75,171,000 after buying an additional 9,618 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Public Storage by 5.3% during the 4th quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock worth $63,838,000 after buying an additional 12,444 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Public Storage by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust’s stock worth $118,576,000 after buying an additional 25,353 shares during the period. 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.