Public Storage (NYSE:PSA) Given New $309.00 Price Target at Evercore ISI

Public Storage (NYSE:PSA) had its price objective increased by investment analysts at Evercore ISI from $297.00 to $309.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target would indicate a potential upside of 2.95% from the company’s current price.

Several other analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Barclays restated an “overweight” rating and issued a $354.00 price target (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Mizuho began coverage on shares of Public Storage in a research note on Wednesday, April 9th. They issued a “neutral” rating and a $287.00 price objective for the company. Royal Bank of Canada lowered 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. Finally, Wells Fargo & Company cut their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $333.75.

Public Storage Stock Up 0.0 %

PSA opened at $300.14 on Friday. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The stock has a market cap of $52.65 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. The stock’s fifty day simple moving average is $294.73 and its 200 day simple moving average is $308.03. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating analysts’ consensus estimates of $4.06 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. Public Storage had a net margin of 40.54% and a return on equity of 34.07%. Public Storage’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.03 EPS. As a group, research analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quent Capital LLC grew its stake in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Public Storage during the 4th quarter valued at $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Public Storage in the 4th quarter worth about $32,000. Opal Wealth Advisors LLC bought a new position in Public Storage in the first quarter valued at about $36,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Public Storage during the fourth quarter valued at about $38,000. Institutional investors and hedge funds 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.