Public Storage (NYSE:PSA) Price Target Raised to $346.00 at Scotiabank

Public Storage (NYSE:PSA) had its price objective boosted by stock analysts at Scotiabank from $345.00 to $346.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price objective would indicate a potential upside of 6.11% from the company’s previous close.

Several other analysts have also commented on PSA. Citigroup raised their target price on Public Storage from $325.00 to $363.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Barclays reissued an “equal weight” rating and issued a $349.00 price target on shares of Public Storage in a report on Friday, July 10th. Weiss Ratings upgraded Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Evercore set a $316.00 price objective on shares of Public Storage in a research note on Monday, July 6th. Finally, Mizuho lifted their target price 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. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $326.11.

Public Storage Stock Performance

NYSE:PSA traded up $1.77 during mid-day trading on Tuesday, hitting $326.08. The company’s stock had a trading volume of 33,672 shares, compared to its average volume of 1,111,719. The business’s fifty day moving average is $322.41 and its two-hundred day moving average is $305.08. The stock has a market cap of $57.27 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 3.84 and a beta of 0.96. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.66 and a quick ratio of 0.66. Public Storage has a 1 year low of $256.54 and a 1 year high of $335.55.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $1.64. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The company’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the business posted $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Analysts anticipate that Public Storage will post 16.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 11.10% of the company’s stock.

Institutional Trading of Public Storage

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake 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 during the period. BlackRock Inc. acquired a new stake in Public Storage in the 2nd quarter valued at $5,495,077,000. Norges Bank acquired a new stake in Public Storage in the 4th quarter valued at $1,163,751,000. Capital International Investors increased its holdings in 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 worth $1,073,032,000 after acquiring an additional 3,686,211 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Public Storage by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock worth $1,056,976,000 after acquiring an additional 66,445 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

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.