Scotiabank Raises Public Storage (NYSE:PSA) Price Target to $340.00

Public Storage (NYSE:PSA) had its target price upped by stock analysts at Scotiabank from $321.00 to $340.00 in a report issued on Monday,MarketScreener reports. Scotiabank’s target price would suggest a potential upside of 9.40% from the stock’s previous close.

Several other research firms have also recently issued reports on PSA. JPMorgan Chase & Co. dropped their price target on shares of Public Storage from $295.00 to $291.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. Evercore set a $306.00 price objective on shares of Public Storage in a research report on Monday, May 4th. Truist Financial lifted their target price on shares of Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Deutsche Bank Aktiengesellschaft lowered shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 target price for the company. in a research note on Tuesday, January 20th. Finally, Royal Bank Of Canada raised their price target on Public Storage from $301.00 to $305.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $310.83.

Public Storage Stock Down 0.1%

Public Storage stock opened at $310.79 on Monday. Public Storage has a 12 month low of $256.54 and a 12 month high of $313.51. The stock has a fifty day simple moving average of $293.68 and a two-hundred day simple moving average of $284.41. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. The firm has a market cap of $54.56 billion, a price-to-earnings ratio of 32.07, a PEG ratio of 4.25 and a beta of 1.00.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company posted $4.12 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities analysts predict that Public Storage will post 16.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Public Storage

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in Public Storage during the fourth quarter valued at about $1,163,751,000. Capital International Investors boosted its position in shares of Public Storage by 821.4% in the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock worth $1,073,032,000 after purchasing an additional 3,686,211 shares during the period. Vanguard Group Inc. increased its stake in shares of Public Storage by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after purchasing an additional 2,274,397 shares in the last quarter. First Trust Advisors LP raised its position in shares of Public Storage by 287.7% during the 4th quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust’s stock valued at $187,252,000 after purchasing an additional 535,465 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Public Storage by 498.7% during the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after purchasing an additional 481,872 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Company Profile

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.