Public Storage (NYSE:PSA) Price Target Lowered to $344.00 at Royal Bank of Canada

Public Storage (NYSE:PSA) had its target price lowered by analysts at Royal Bank of Canada from $358.00 to $344.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 1.35% from the company’s previous close.

PSA has been the topic of a number of other reports. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $318.00 target price on the stock. in a research note on Monday, August 5th. Wolfe Research upgraded Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. Scotiabank upped their target price on Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Wells Fargo & Company cut their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Barclays lifted their price objective on Public Storage from $374.00 to $381.00 and gave the company an “overweight” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $339.71.

Public Storage Trading Up 1.9 %

Shares of NYSE PSA opened at $339.42 on Friday. Public Storage has a fifty-two week low of $241.60 and a fifty-two week high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $59.44 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 4.58 and a beta of 0.70. The business’s 50 day moving average price is $346.94 and its 200-day moving average price is $311.34.

Institutional Trading of Public Storage

A number of institutional investors have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. lifted its position in Public Storage by 5.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,563 shares of the real estate investment trust’s stock worth $1,324,000 after acquiring an additional 246 shares during the period. Quantbot Technologies LP purchased a new stake in Public Storage in the first quarter valued at approximately $884,000. Empowered Funds LLC increased its holdings in Public Storage by 18.9% in the 1st quarter. Empowered Funds LLC now owns 2,040 shares of the real estate investment trust’s stock worth $592,000 after buying an additional 324 shares during the period. Oppenheimer & Co. Inc. raised its position in Public Storage by 1.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,772 shares of the real estate investment trust’s stock worth $2,254,000 after buying an additional 124 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in Public Storage by 27.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,530 shares of the real estate investment trust’s stock worth $1,604,000 after buying an additional 1,191 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

About Public Storage

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 December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.