Public Storage (NYSE:PSA) Given New $346.00 Price Target at Scotiabank

Public Storage (NYSE:PSA) had its price target lifted by stock analysts at Scotiabank from $345.00 to $346.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s target price would indicate a potential upside of 6.11% from the company’s current price.

PSA has been the subject of several other research reports. Barclays reissued an “equal weight” rating and issued a $349.00 price target on shares of Public Storage in a report on Friday, July 10th. Truist Financial upped their price objective on shares of Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Mizuho increased their price objective on shares of Public Storage from $301.00 to $316.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Weiss Ratings raised shares of Public Storage from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 12th. Finally, BNP Paribas Exane lifted their target price on shares of Public Storage from $331.00 to $335.00 and gave the stock an “outperform” rating in a research note on Friday, May 22nd. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, Public Storage presently has an average rating of “Hold” and a consensus target price of $326.11.

Public Storage Stock Up 0.5%

Shares of PSA stock traded up $1.77 during trading hours on Tuesday, reaching $326.08. 33,672 shares of the company’s stock were exchanged, compared to its average volume of 1,111,719. The stock’s 50 day moving average is $322.41 and its 200-day moving average is $305.08. The company has a market cap of $57.27 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 3.84 and a beta of 0.96. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $335.55.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $1.64. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%.The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $4.28 EPS. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. Analysts predict that Public Storage will post 16.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bayban purchased a new stake in Public Storage in the fourth quarter valued at approximately $26,000. Harvest Fund Management Co. Ltd purchased a new position in Public Storage during the 3rd quarter worth approximately $27,000. Bruce G. Allen Investments LLC raised its position in Public Storage by 89.6% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 43 shares during the last quarter. Wealth Watch Advisors INC acquired a new stake in Public Storage during the 3rd quarter valued at approximately $34,000. Finally, Meeder Asset Management Inc. acquired a new stake in Public Storage during the 2nd quarter valued at approximately $36,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.