Public Storage (NYSE:PSA) Earns Market Perform Rating from Analysts at Raymond James Financial

Raymond James Financial initiated coverage on shares of Public Storage (NYSE:PSA) in a research report issued to clients and investors on Thursday. The firm set a “market perform” rating on the real estate investment trust’s stock.

A number of other research firms also recently weighed in on PSA. Evercore set a $316.00 target price on shares of Public Storage in a research report on Monday, July 6th. BMO Capital Markets boosted their price objective on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research note on Monday, June 15th. Mizuho upped their price objective on shares of Public Storage from $301.00 to $316.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $341.00 target price on shares of Public Storage in a research note on Wednesday, April 29th. Finally, Scotiabank lifted their target price on shares of Public Storage from $342.00 to $345.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. 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 $325.37.

Public Storage Stock Up 1.3%

Shares of PSA stock traded up $4.20 during midday trading on Thursday, reaching $318.88. 30,897 shares of the stock were exchanged, compared to its average volume of 1,098,011. Public Storage has a 1 year low of $256.54 and a 1 year high of $331.79. The firm has a market cap of $55.98 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 4.29 and a beta of 0.96. The company’s 50 day moving average is $313.82 and its two-hundred day moving average is $297.33. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02.

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 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 was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. On average, equities research analysts predict that Public Storage will post 16.94 EPS for the current year.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the sale, the insider directly 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 document filed 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

A number of institutional investors have recently made changes to their positions in PSA. Knights of Columbus Asset Advisors LLC increased its position in Public Storage by 25.3% in the fourth 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 last quarter. Nomura Asset Management Co. Ltd. lifted its position in Public Storage by 3.4% during 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 purchasing an additional 9,618 shares during the last quarter. Principal Financial Group Inc. lifted its position in Public Storage by 5.3% during the fourth quarter. Principal Financial Group Inc. now owns 246,002 shares of the real estate investment trust’s stock valued at $63,838,000 after purchasing an additional 12,444 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Public Storage by 5.8% in 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 in the last quarter. Finally, Swiss Life Asset Management Ltd increased its holdings in shares of Public Storage by 16.0% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 34,448 shares of the real estate investment trust’s stock worth $9,950,000 after buying an additional 4,762 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

About Public Storage

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.