Public Storage (NYSE:PSA) Price Target Raised to $321.00
by Sarita Garza · The Markets DailyPublic Storage (NYSE:PSA – Get Free Report) had its price target raised by investment analysts at Scotiabank from $319.00 to $321.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s target price suggests a potential upside of 19.15% from the company’s current price.
A number of other equities research analysts have also recently issued reports on PSA. Deutsche Bank Aktiengesellschaft cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price objective for the company. in a research note on Tuesday, January 20th. Barclays boosted their target price on shares of Public Storage from $331.00 to $347.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. BMO Capital Markets reiterated a “market perform” rating on shares of Public Storage in a research note on Monday, March 16th. Wolfe Research cut Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Finally, Evercore set a $302.00 price objective on Public Storage in a report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Public Storage has an average rating of “Hold” and an average target price of $307.12.
Check Out Our Latest Report on PSA
Public Storage Stock Performance
Shares of PSA opened at $269.41 on Monday. The company has a market capitalization of $47.28 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 5.37 and a beta of 0.99. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.05. The stock has a 50 day moving average of $292.15 and a 200 day moving average of $284.33. Public Storage has a 12 month low of $256.54 and a 12 month high of $312.95.
Institutional Investors Weigh In On Public Storage
A number of large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Public Storage during the 4th quarter worth $1,163,751,000. Capital International Investors increased its stake in shares of Public Storage by 821.4% in the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock worth $1,073,032,000 after purchasing an additional 3,686,211 shares in the last quarter. Vanguard Group Inc. lifted its position in Public Storage by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock valued at $6,576,534,000 after purchasing an additional 2,274,397 shares in the last quarter. First Trust Advisors LP lifted its position in Public Storage by 287.7% during the fourth quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust’s stock valued at $187,252,000 after purchasing an additional 535,465 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Public Storage by 498.7% during the second quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock valued at $166,970,000 after purchasing an additional 481,872 shares during the period. 78.79% of the stock is currently owned by institutional investors.
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.