Public Storage (NYSE:PSA) PT Set at $348.00 by Evercore ISI

Public Storage (NYSE:PSAGet 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.

Public Storage (NYSE:PSAGet Rating) last announced its earnings results on Tuesday, May 3rd. The real estate investment trust reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.96). The business had revenue of $749.27 million for the quarter, compared to analyst estimates of $985.58 million. Public Storage had a return on equity of 38.01% and a net margin of 54.79%. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.82 EPS. As a group, analysts expect that Public Storage will post 15.52 EPS for the current year.

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.

Further Reading

Stock Target Advisor logo

Analyst Recommendations for Public Storage (NYSE:PSA)

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.