Public Storage (NYSE:PSA) PT Lowered to $327.00

Public Storage (NYSE:PSAGet Rating) had its price objective cut by equities research analysts at Evercore ISI from $333.00 to $327.00 in a report issued on Monday, The Fly reports. Evercore ISI’s price target would indicate a potential upside of 4.42% from the company’s previous close.

A number of other research firms also recently weighed in on PSA. Citigroup restated a “buy” rating and issued a $367.00 price objective on shares of Public Storage in a report on Thursday, July 28th. Truist Financial decreased their price objective on Public Storage from $425.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, June 1st. Jefferies Financial Group decreased their price target on Public Storage from $465.00 to $369.00 and set a “buy” rating for the company in a report on Thursday, June 30th. StockNews.com upgraded Public Storage from a “hold” rating to a “buy” rating in a report on Monday, September 12th. Finally, Stifel Nicolaus decreased their price target on Public Storage from $410.00 to $360.00 in a report on Tuesday, June 21st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $365.58.

Public Storage Stock Down 0.2 %

Shares of PSA opened at $313.15 on Monday. Public Storage has a 52 week low of $292.32 and a 52 week high of $421.76. The stock has a market capitalization of $54.95 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 2.86 and a beta of 0.33. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.14 and a current ratio of 2.14. The stock has a fifty day moving average of $332.11 and a 200-day moving average of $343.87.

Insider Activity at Public Storage

In related news, Director John Reyes sold 51,637 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $353.15, for a total value of $18,235,606.55. Following the transaction, the director now owns 175,449 shares of the company’s stock, valued at approximately $61,959,814.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Public Storage news, Director Tamara Hughes Gustavson sold 203 shares of Public Storage stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $348.29, for a total transaction of $70,702.87. Following the transaction, the director now owns 5,500 shares of the company’s stock, valued at approximately $1,915,595. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Reyes sold 51,637 shares of Public Storage stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $353.15, for a total transaction of $18,235,606.55. Following the transaction, the director now directly owns 175,449 shares in the company, valued at approximately $61,959,814.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,670 shares of company stock valued at $18,599,374. 11.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Public Storage

Hedge funds have recently modified their holdings of the company. Mystic Asset Management Inc. purchased a new stake in shares of Public Storage during the 4th quarter worth approximately $26,000. Marshall & Sullivan Inc. WA purchased a new stake in shares of Public Storage during the 2nd quarter worth approximately $26,000. American National Bank increased its stake in shares of Public Storage by 180.0% during the 2nd quarter. American National Bank now owns 84 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 54 shares during the last quarter. Investors Research Corp increased its stake in shares of Public Storage by 102.5% during the 1st quarter. Investors Research Corp now owns 81 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC increased its stake in shares of Public Storage by 119.0% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 92 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 78.19% of the company’s stock.

Public Storage Company Profile

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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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

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