Public Storage (NYSE:PSA) Upgraded at Scotiabank

Public Storage (NYSE:PSA) was upgraded by equities research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a report issued on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $305.00 target price on the real estate investment trust’s stock. Scotiabank’s price target would indicate a potential upside of 14.65% from the company’s current price.

Other analysts also recently issued research reports about the company. Barclays restated an “overweight” rating and set a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a report on Wednesday, March 12th. Truist Financial cut their price target on shares of Public Storage from $316.00 to $310.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company decreased their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Royal Bank of Canada cut their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and raised their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $332.08.

Public Storage Stock Performance

Shares of NYSE PSA opened at $266.03 on Wednesday. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The stock has a market capitalization of $46.67 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 4.91 and a beta of 0.76. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock’s fifty day simple moving average is $298.41 and its 200 day simple moving average is $315.85.

Institutional Investors Weigh In On Public Storage

Several large investors have recently made changes to their positions in the company. Quent Capital LLC grew its position in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 50 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Public Storage in the 4th quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage in the fourth quarter worth $32,000. Synergy Asset Management LLC acquired a new position in Public Storage during the fourth quarter worth $38,000. Finally, Millstone Evans Group LLC bought a new position in Public Storage during the fourth quarter valued at about $38,000. Institutional investors own 78.79% of the company’s stock.

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.