Public Storage (NYSE:PSA) Coverage Initiated at BNP Paribas Exane

Investment analysts at BNP Paribas Exane began coverage on shares of Public Storage (NYSE:PSA) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $331.00 price target on the real estate investment trust’s stock. BNP Paribas Exane’s target price would suggest a potential upside of 14.26% from the stock’s current price.

Several other equities analysts have also commented on the stock. Scotiabank increased their target price on shares of Public Storage from $305.00 to $340.00 and gave the company a “sector outperform” rating in a report on Monday, May 12th. Barclays cut their price target on shares of Public Storage from $354.00 to $351.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Royal Bank Of Canada decreased their price objective on Public Storage from $329.00 to $328.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Truist Financial upgraded Public Storage from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a report on Thursday, April 10th. Finally, Evercore ISI raised their price target on Public Storage from $297.00 to $309.00 and gave the stock an “in-line” rating in a research report on Friday, May 2nd. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $337.64.

Public Storage Price Performance

Shares of Public Storage stock opened at $289.69 on Tuesday. The firm has a market capitalization of $50.82 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 4.28 and a beta of 0.89. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.77. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The business’s 50-day moving average price is $298.81 and its 200-day moving average price is $298.47.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.06 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.18 billion. Public Storage had a return on equity of 36.50% and a net margin of 41.74%. Public Storage’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.03 earnings per share. Sell-side analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Public Storage

A number of large investors have recently made changes to their positions in PSA. Retirement Planning Co of New England Inc. lifted its stake in Public Storage by 1.6% in the first quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 33 shares during the period. Shum Financial Group Inc. raised its holdings in Public Storage by 1.7% in the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust’s stock worth $625,000 after purchasing an additional 35 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Public Storage by 0.9% in the 4th quarter. Lido Advisors LLC now owns 4,298 shares of the real estate investment trust’s stock worth $1,287,000 after purchasing an additional 39 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of Public Storage by 3.1% during the 1st quarter. Meeder Asset Management Inc. now owns 1,295 shares of the real estate investment trust’s stock valued at $388,000 after purchasing an additional 39 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake in shares of Public Storage by 1.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 3,581 shares of the real estate investment trust’s stock valued at $1,072,000 after purchasing an additional 39 shares in 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.