Public Storage (NYSE:PSA) Raised to “Hold” at Deutsche Bank Aktiengesellschaft

Public Storage (NYSE:PSA) was upgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a “sell” rating to a “hold” rating in a note issued to investors on Friday, Marketbeat reports. The brokerage presently has a $299.00 price target on the real estate investment trust’s stock, up from their prior price target of $298.00. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 3.59% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Truist Financial lifted their price target on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Morgan Stanley lifted their target price on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company cut their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Jefferies Financial Group upped their price objective on shares of Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Barclays cut their target price on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $346.00.

Public Storage Stock Down 2.3 %

PSA stock opened at $288.65 on Friday. The company has a market cap of $50.55 billion, a price-to-earnings ratio of 29.97, a P/E/G ratio of 5.29 and a beta of 0.74. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The business has a 50 day moving average price of $321.09 and a two-hundred day moving average price of $325.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Public Storage

A number of institutional investors and hedge funds have recently modified their holdings of PSA. Prospera Private Wealth LLC bought a new stake in Public Storage in the third quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage in the third quarter valued at approximately $38,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Public Storage during the third quarter valued at approximately $50,000. Harbor Capital Advisors Inc. acquired a new position in shares of Public Storage during the third quarter worth approximately $55,000. Finally, Versant Capital Management Inc lifted its stake in shares of Public Storage by 301.7% in the fourth quarter. Versant Capital Management Inc now owns 237 shares of the real estate investment trust’s stock valued at $71,000 after buying an additional 178 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

About Public Storage

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.