Scotiabank Boosts Public Storage (NYSE:PSA) Price Target to $342.00

Public Storage (NYSE:PSA) had its target price upped by analysts at Scotiabank from $340.00 to $342.00 in a report released on Thursday,MarketScreener reports. Scotiabank’s target price would suggest a potential upside of 7.59% from the company’s current price.

A number of other research analysts have also weighed in on PSA. Evercore upped their price objective on Public Storage from $306.00 to $317.00 in a report on Monday, June 8th. JPMorgan Chase & Co. raised their target price on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Citigroup boosted their target price on shares of Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 12th. Finally, Mizuho increased their price target on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Public Storage presently has an average rating of “Hold” and an average target price of $323.53.

Public Storage Stock Performance

NYSE PSA traded up $5.30 during trading hours on Thursday, hitting $317.88. 282,064 shares of the stock were exchanged, compared to its average volume of 1,115,753. 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 $55.80 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 4.36 and a beta of 0.98. Public Storage has a 12-month low of $256.54 and a 12-month high of $331.79. The stock has a 50-day moving average of $305.55 and a 200 day moving average of $289.83.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities research analysts forecast that Public Storage will post 16.92 earnings per share for the current year.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the sale, the insider directly owned 1,414 shares in the company, valued at approximately $459,281.34. The trade was a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Bayban purchased a new stake in shares of Public Storage in the 4th quarter worth about $26,000. Harvest Fund Management Co. Ltd purchased a new position in Public Storage during the 3rd quarter valued at about $27,000. Raiffeisen Bank International AG acquired a new position in Public Storage during the third quarter worth about $30,000. Wealth Watch Advisors INC acquired a new position in Public Storage during the third quarter worth about $34,000. Finally, Knuff & Co LLC purchased a new stake in shares of Public Storage in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors 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.