Evercore ISI Issues Pessimistic Forecast for Public Storage (NYSE:PSA) Stock Price

Public Storage (NYSE:PSA) had its target price reduced by investment analysts at Evercore ISI from $315.00 to $309.00 in a research note issued on Monday, Marketbeat.com reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price points to a potential upside of 13.08% from the company’s current price.

PSA has been the subject of a number of other reports. BMO Capital Markets decreased their target price on Public Storage from $325.00 to $320.00 and set a “market perform” rating for the company in a research report on Monday, November 24th. Raymond James Financial decreased their price objective on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 18th. Wall Street Zen upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Scotiabank cut their target price on shares of Public Storage from $340.00 to $333.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 28th. Finally, 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 note on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $324.79.

Public Storage Stock Performance

Shares of PSA stock opened at $273.25 on Monday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $47.95 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 4.72 and a beta of 1.01. Public Storage has a 52 week low of $256.60 and a 52 week high of $345.10. The firm’s 50-day simple moving average is $285.58 and its two-hundred day simple moving average is $289.21.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.07. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 35.67%. Public Storage’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. As a group, equities analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Public Storage by 10.8% during the third quarter. Vanguard Group Inc. now owns 23,068,701 shares of the real estate investment trust’s stock valued at $6,663,394,000 after purchasing an additional 2,253,225 shares during the last quarter. State Street Corp lifted its holdings in shares of Public Storage by 1.2% during the 2nd quarter. State Street Corp now owns 10,613,807 shares of the real estate investment trust’s stock worth $3,114,303,000 after acquiring an additional 126,113 shares during the last quarter. Norges Bank purchased a new position in Public Storage in the second quarter worth $1,153,971,000. JPMorgan Chase & Co. grew its position in Public Storage by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 3,334,488 shares of the real estate investment trust’s stock worth $963,177,000 after acquiring an additional 177,421 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Public Storage by 1.0% in the first quarter. Wellington Management Group LLP now owns 2,987,662 shares of the real estate investment trust’s stock valued at $894,177,000 after acquiring an additional 30,775 shares during the last quarter. 78.79% of the stock is currently 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.