Barclays Increases Public Storage (NYSE:PSA) Price Target to $381.00

Public Storage (NYSE:PSA) had its price objective boosted by research analysts at Barclays from $374.00 to $381.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price objective would suggest a potential upside of 15.02% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Scotiabank upped their target price on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Wells Fargo & Company raised their price target on shares of Public Storage from $320.00 to $375.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Morgan Stanley upped their price objective on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price for the company. in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $341.43.

Public Storage Price Performance

Public Storage stock opened at $331.26 on Monday. The stock has a 50-day moving average price of $347.97 and a two-hundred day moving average price of $308.07. Public Storage has a 12 month low of $233.18 and a 12 month high of $369.99. The company has a market capitalization of $57.98 billion, a PE ratio of 31.05, a P/E/G ratio of 4.74 and a beta of 0.68. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.72.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $2.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The business had revenue of $921.70 million during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the business earned $4.28 EPS. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. Analysts expect that Public Storage will post 16.73 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PSA. Petredis Investment Advisors LLC increased its holdings in shares of Public Storage by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock valued at $2,497,000 after acquiring an additional 30 shares in the last quarter. S.A. Mason LLC increased its stake in Public Storage by 3.8% during the 3rd quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 30 shares in the last quarter. Yoder Wealth Management Inc. raised its holdings in Public Storage by 5.0% during the third quarter. Yoder Wealth Management Inc. now owns 763 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 36 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Public Storage by 0.9% in the second quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust’s stock valued at $1,201,000 after buying an additional 39 shares in the last quarter. Finally, Brookstone Capital Management lifted its stake in shares of Public Storage by 3.4% in the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock valued at $354,000 after buying an additional 40 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Company Profile

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns, and operates self-storage facilities. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.