Public Storage (NYSE:PSA) Given New $342.00 Price Target at Scotiabank

Public Storage (NYSE:PSA) had its target price hoisted by stock analysts at Scotiabank from $340.00 to $342.00 in a research report issued on Thursday,MarketScreener reports. Scotiabank’s target price points to a potential upside of 7.59% from the company’s previous close.

Several other equities research analysts have also recently issued reports on PSA. BMO Capital Markets raised their price target on shares of Public Storage from $305.00 to $340.00 and gave the stock a “market perform” rating in a research note on Monday. Evercore boosted their price objective on shares of Public Storage from $306.00 to $317.00 in a research report on Monday, June 8th. JPMorgan Chase & Co. upped their price objective on shares of Public Storage from $291.00 to $338.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. William Blair set a $305.00 target price on shares of Public Storage in a research report on Monday, March 16th. Finally, Wall Street Zen raised shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of “Hold” and an average price target of $323.53.

Public Storage Price Performance

Shares of NYSE PSA traded up $5.30 during trading on Thursday, reaching $317.88. The company had a trading volume of 282,064 shares, compared to its average volume of 1,115,753. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.02. Public Storage has a twelve month low of $256.54 and a twelve month high of $331.79. The stock has a 50-day moving average price of $305.55 and a two-hundred day moving average price of $289.83. The stock has a market capitalization of $55.80 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 4.36 and a beta of 0.98.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Monday, April 27th. The real estate investment trust reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.29. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Public Storage had a return on equity of 37.78% and a net margin of 39.16%.The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $4.12 earnings per share. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. As a group, sell-side analysts predict that Public Storage will post 16.92 earnings per share for the current year.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 950 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the sale, the insider directly owned 1,414 shares of the company’s stock, valued at approximately $459,281.34. This trade represents a 40.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Public Storage

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rathbones Group PLC increased its position in Public Storage by 3.5% during the first quarter. Rathbones Group PLC now owns 60,555 shares of the real estate investment trust’s stock worth $16,403,000 after purchasing an additional 2,056 shares during the last quarter. First Nebraska Trust Co acquired a new position in shares of Public Storage in the 1st quarter valued at $2,983,000. Allen Capital Group LLC acquired a new position in shares of Public Storage in the 1st quarter valued at $229,000. Glenmede Trust Co. NA grew its stake in shares of Public Storage by 5.1% during the 1st quarter. Glenmede Trust Co. NA now owns 2,659 shares of the real estate investment trust’s stock valued at $720,000 after buying an additional 130 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Public Storage during the 1st quarter valued at $400,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

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.