Public Storage’s (PSA) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

Public Storage (NYSE:PSA)‘s stock had its “neutral” rating reaffirmed by JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $301.00 price target on the real estate investment trust’s stock, down from their prior price target of $316.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 12.54% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Raymond James Financial decreased their price target on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 18th. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research note on Wednesday, October 8th. UBS Group lowered their target price on Public Storage from $295.00 to $293.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 18th. Finally, Royal Bank Of Canada reduced their price target on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.87.

Public Storage Price Performance

Shares of NYSE:PSA opened at $267.46 on Thursday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. The stock has a market cap of $46.93 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 5.73 and a beta of 1.01. The stock’s fifty day simple moving average is $281.74 and its two-hundred day simple moving average is $286.95. Public Storage has a 1-year low of $256.60 and a 1-year high of $322.49.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, beating the consensus estimate of $4.24 by $0.07. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the company posted $4.20 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PSA. Marshall & Sullivan Inc. WA bought a new stake in Public Storage during the 2nd quarter valued at $25,000. Harbor Asset Planning Inc. purchased a new position in shares of Public Storage in the second quarter valued at $25,000. First Pacific Financial bought a new stake in shares of Public Storage during the 3rd quarter valued at $26,000. Harvest Fund Management Co. Ltd purchased a new stake in Public Storage during the 3rd quarter worth about $27,000. Finally, Asset Dedication LLC boosted its stake in Public Storage by 111.1% in the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 50 shares during the period. 78.79% of the stock is owned by institutional investors.

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.