Public Storage (NYSE:PSA – Get Rating) has been assigned a $348.00 price target by equities researchers at Evercore ISI in a research report issued on Monday, Stock Target Advisor reports. Evercore ISI’s target price suggests a potential upside of 15.20% from the company’s current price.
Several other equities research analysts also recently weighed in on the stock. BMO Capital Markets raised shares of Public Storage from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $410.00 to $370.00 in a research note on Thursday, May 19th. StockNews.com cut shares of Public Storage from a “buy” rating to a “hold” rating in a research note on Friday, June 10th. JPMorgan Chase & Co. upped their price target on shares of Public Storage from $385.00 to $434.00 and gave the company an “overweight” rating in a research note on Monday, April 4th. Raymond James decreased their target price on shares of Public Storage from $375.00 to $365.00 in a report on Monday, May 23rd. Finally, The Goldman Sachs Group upped their target price on shares of Public Storage from $398.00 to $440.00 and gave the stock a “neutral” rating in a report on Thursday, April 14th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $372.00.
Public Storage stock opened at $302.09 on Monday. Public Storage has a fifty-two week low of $292.32 and a fifty-two week high of $421.76. The firm has a market capitalization of $53.01 billion, a PE ratio of 29.36, a P/E/G ratio of 2.73 and a beta of 0.29. The company’s 50-day moving average is $342.20 and its 200-day moving average is $357.26. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.07 and a quick ratio of 2.07.
Hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC increased its stake in shares of Public Storage by 1.7% in the 1st quarter. Signaturefd LLC now owns 1,719 shares of the real estate investment trust’s stock worth $671,000 after acquiring an additional 28 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Public Storage by 2.7% in the 4th quarter. AdvisorNet Financial Inc now owns 1,113 shares of the real estate investment trust’s stock valued at $417,000 after buying an additional 29 shares during the period. Glassman Wealth Services lifted its stake in Public Storage by 16.4% during the fourth quarter. Glassman Wealth Services now owns 206 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 29 shares during the last quarter. Jacobi Capital Management LLC lifted its stake in Public Storage by 2.2% during the first quarter. Jacobi Capital Management LLC now owns 1,423 shares of the real estate investment trust’s stock worth $555,000 after purchasing an additional 31 shares during the last quarter. Finally, Trust Co. of Vermont lifted its stake in Public Storage by 3.4% during the first quarter. Trust Co. of Vermont now owns 983 shares of the real estate investment trust’s stock worth $384,000 after purchasing an additional 32 shares during the last quarter. 78.54% of the stock is currently owned by institutional investors and hedge funds.
About Public Storage (Get Rating)
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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