Public Storage (NYSE:PSA) Earns Outperform Rating from Analysts at BNP Paribas Exane

Analysts at BNP Paribas Exane initiated coverage on shares of Public Storage (NYSE:PSA) in a report released on Tuesday. The brokerage set an “outperform” rating and a $331.00 price target on the real estate investment trust’s stock. BNP Paribas Exane’s price objective points to a potential upside of 12.20% from the company’s previous close.

A number of other analysts have also recently weighed in on PSA. Barclays decreased their price target on shares of Public Storage from $354.00 to $351.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Scotiabank upped their target price on Public Storage from $305.00 to $340.00 and gave the stock a “sector outperform” rating in a research report on Monday, May 12th. Evercore ISI raised their target price on Public Storage from $297.00 to $309.00 and gave the company an “in-line” rating in a report on Friday, May 2nd. BMO Capital Markets lowered Public Storage from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $340.00 to $325.00 in a research report on Friday. Finally, Royal Bank Of Canada lowered their price objective on shares of Public Storage from $329.00 to $328.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $337.64.

Public Storage Stock Performance

Public Storage stock opened at $295.00 on Tuesday. The company has a market cap of $51.75 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 4.20 and a beta of 0.89. Public Storage has a 12 month low of $256.60 and a 12 month high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.55 and a quick ratio of 0.55. The stock’s 50-day moving average is $298.66 and its 200-day moving average is $298.55.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $4.12 EPS for the quarter, beating the consensus estimate of $4.06 by $0.06. Public Storage had a net margin of 41.74% and a return on equity of 36.50%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the firm posted $4.03 earnings per share. Public Storage’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts anticipate that Public Storage will post 16.7 earnings per share for the current year.

Institutional Trading of Public Storage

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ameriflex Group Inc. bought a new stake in shares of Public Storage in the 4th quarter valued at approximately $30,000. Spectrum Wealth Counsel LLC bought a new stake in Public Storage during the first quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Public Storage during the fourth quarter valued at $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Public Storage during the first quarter worth $36,000. Finally, Millstone Evans Group LLC bought a new position in shares of Public Storage in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Company Profile

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.