Public Storage (NYSE:PSA) Given New $318.00 Price Target at Evercore

Public Storage (NYSE:PSA) had its price objective hoisted by equities research analysts at Evercore from $317.00 to $318.00 in a report issued on Tuesday,MarketScreener reports. Evercore’s target price would suggest a potential downside of 1.78% from the company’s current price.

PSA has been the topic of several other research reports. Wall Street Zen raised Public Storage from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings raised Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 12th. JPMorgan Chase & Co. boosted their price target on Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Scotiabank increased their price objective on Public Storage from $340.00 to $342.00 and gave the stock a “sector outperform” rating in a research report on Thursday, June 18th. Finally, Truist Financial set a $338.00 price target on shares of Public Storage in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $324.68.

Public Storage Stock Performance

Shares of PSA stock traded up $3.55 during midday trading on Tuesday, hitting $323.77. 123,626 shares of the company were exchanged, compared to its average volume of 1,116,068. Public Storage has a 52 week low of $256.54 and a 52 week high of $331.79. The firm has a market capitalization of $56.84 billion, a P/E ratio of 33.49, a PEG ratio of 4.28 and a beta of 0.98. The firm’s 50 day moving average price is $307.41 and its two-hundred day moving average price is $290.80. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56.

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 for the quarter, beating the consensus estimate of $2.42 by $0.29. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The business’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.12 EPS. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, equities research analysts anticipate that Public Storage will post 16.94 earnings per share for the current year.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 950 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the sale, the insider owned 1,414 shares in the company, valued at approximately $459,281.34. This trade represents a 40.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PSA. Norges Bank acquired a new stake in shares of Public Storage in the 4th quarter valued at $1,163,751,000. Capital International Investors increased its stake in shares of Public Storage by 821.4% in the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after purchasing an additional 3,686,211 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Public Storage by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after buying an additional 2,274,397 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Public Storage by 287.7% during the 4th quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust’s stock worth $187,252,000 after buying an additional 535,465 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Public Storage by 498.7% during the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after buying an additional 481,872 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

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.