Public Storage (NYSE:PSA) Given New $330.00 Price Target at Jefferies Financial Group

Public Storage (NYSE:PSA) had its target price lowered by stock analysts at Jefferies Financial Group from $345.00 to $330.00 in a research note issued on Tuesday,MarketScreener reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 11.12% from the stock’s previous close.

A number of other research analysts have also recently issued reports on PSA. JPMorgan Chase & Co. decreased their price objective on shares of Public Storage from $295.00 to $291.00 and set a “neutral” rating on the stock in a research note on Monday, March 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $330.00 target price on shares of Public Storage in a report on Friday, February 20th. Scotiabank lifted their price target on Public Storage from $319.00 to $321.00 and gave the company a “sector outperform” rating in a research note on Monday, March 23rd. Truist Financial boosted their price target on Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Finally, Deutsche Bank Aktiengesellschaft lowered Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price objective on the stock. in a research note on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $308.22.

Public Storage Price Performance

PSA stock opened at $296.98 on Tuesday. The company’s 50-day moving average price is $290.60 and its two-hundred day moving average price is $283.31. The firm has a market cap of $52.12 billion, a P/E ratio of 33.07, a P/E/G ratio of 6.05 and a beta of 1.02. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05. Public Storage has a 12 month low of $256.54 and a 12 month high of $312.95.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. National Pension Service raised its holdings in Public Storage by 4.2% in the 3rd quarter. National Pension Service now owns 255,300 shares of the real estate investment trust’s stock valued at $73,743,000 after buying an additional 10,345 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in Public Storage by 57.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 4,974 shares of the real estate investment trust’s stock worth $1,437,000 after buying an additional 1,816 shares during the period. Cornerstone Planning Group LLC grew its holdings in Public Storage by 14,992.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 11,772 shares of the real estate investment trust’s stock worth $3,400,000 after acquiring an additional 11,694 shares during the last quarter. Jones Financial Companies Lllp increased its position in Public Storage by 19.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 41,094 shares of the real estate investment trust’s stock valued at $11,766,000 after acquiring an additional 6,814 shares during the period. Finally, Vanderbilt University increased its position in Public Storage by 103.1% in the 3rd quarter. Vanderbilt University now owns 9,112 shares of the real estate investment trust’s stock valued at $2,632,000 after acquiring an additional 4,626 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

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.