Public Storage (NYSE:PSA) Price Target Raised to $340.00

Public Storage (NYSE:PSA) had its price objective upped by analysts at Truist Financial from $306.00 to $340.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s target price points to a potential upside of 1.81% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Evercore ISI cut their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Wolfe Research raised Public Storage to a “strong-buy” rating in a research report on Wednesday, September 4th. Wells Fargo & Company decreased their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Citigroup upped their target price on Public Storage from $303.00 to $378.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Jefferies Financial Group raised their price target on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $342.07.

Public Storage Stock Performance

Public Storage stock opened at $333.95 on Thursday. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The firm’s 50 day simple moving average is $340.84 and its 200-day simple moving average is $320.43. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $58.48 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 5.59 and a beta of 0.71.

Institutional Trading of Public Storage

Several large investors have recently made changes to their positions in the stock. Petredis Investment Advisors LLC raised its stake in shares of Public Storage by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock valued at $2,497,000 after acquiring an additional 30 shares in the last quarter. S.A. Mason LLC raised its position in shares of Public Storage by 3.8% in the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 30 shares during the period. Haverford Trust Co lifted its stake in shares of Public Storage by 0.7% in the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock worth $1,558,000 after buying an additional 30 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Public Storage by 5.4% during the 3rd quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 33 shares during the period. Finally, Chesapeake Wealth Management grew its stake in Public Storage by 2.2% in the 3rd quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock valued at $560,000 after buying an additional 33 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

About Public Storage

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.