Public Storage (NYSE:PSA) Given New $310.00 Price Target at Truist Financial

Public Storage (NYSE:PSA) had its target price lowered by Truist Financial from $316.00 to $310.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target suggests a potential upside of 4.88% from the stock’s current price.

Other analysts have also issued reports about the stock. Scotiabank lowered their target price on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research note on Wednesday, March 5th. Barclays reissued an “overweight” rating and set a $354.00 target price (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and boosted their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Wells Fargo & Company dropped their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Royal Bank of Canada dropped their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $338.00.

Public Storage Stock Down 1.0 %

Shares of PSA opened at $295.57 on Tuesday. The firm has a market capitalization of $51.85 billion, a P/E ratio of 30.69, a P/E/G ratio of 4.91 and a beta of 0.73. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a fifty day moving average price of $299.90 and a 200-day moving average price of $322.67.

Institutional Trading of Public Storage

A number of institutional investors have recently modified their holdings of PSA. GSA Capital Partners LLP purchased a new position in shares of Public Storage in the 3rd quarter valued at approximately $512,000. OneDigital Investment Advisors LLC raised its position in shares of Public Storage by 6.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,770 shares of the real estate investment trust’s stock valued at $644,000 after purchasing an additional 115 shares during the last quarter. Empowered Funds LLC raised its position in shares of Public Storage by 9.5% in the 3rd quarter. Empowered Funds LLC now owns 2,530 shares of the real estate investment trust’s stock valued at $921,000 after purchasing an additional 220 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Public Storage by 2.6% in the 3rd quarter. Natixis Advisors LLC now owns 62,958 shares of the real estate investment trust’s stock valued at $22,908,000 after purchasing an additional 1,578 shares during the last quarter. Finally, Claro Advisors LLC purchased a new position in shares of Public Storage in the 3rd quarter valued at approximately $227,000. 78.79% of the stock is currently owned by institutional investors.

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.