Public Storage (NYSE:PSA) Now Covered by Mizuho

Equities researchers at Mizuho initiated coverage on shares of Public Storage (NYSE:PSA) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage set a “neutral” rating and a $287.00 price target on the real estate investment trust’s stock. Mizuho’s price target would suggest a potential upside of 3.15% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on PSA. Scotiabank raised Public Storage from a “sector perform” rating to a “sector outperform” rating and decreased their price objective for the company from $333.00 to $305.00 in a report on Wednesday. Royal Bank of Canada decreased their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Truist Financial dropped their price objective on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upgraded 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. Finally, Wells Fargo & Company dropped their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $332.08.

Public Storage Price Performance

Shares of Public Storage stock opened at $278.24 on Wednesday. The firm has a market cap of $48.81 billion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. The firm’s 50-day simple moving average is $297.42 and its 200-day simple moving average is $314.46. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Institutional Trading of Public Storage

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quent Capital LLC increased its stake in shares of Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Ameriflex Group Inc. acquired a new position in Public Storage during the fourth quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage in the fourth quarter valued at approximately $32,000. Synergy Asset Management LLC acquired a new stake in Public Storage in the fourth quarter worth $38,000. Finally, Millstone Evans Group LLC bought a new position in shares of Public Storage during the fourth quarter worth $38,000. 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.