Public Storage (NYSE:PSA) Given New $380.00 Price Target at Barclays

Public Storage (NYSE:PSA) had its target price dropped by stock analysts at Barclays from $381.00 to $380.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price objective would indicate a potential upside of 13.60% from the stock’s current price.

A number of other equities analysts have also weighed in on PSA. Wells Fargo & Company reduced their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Evercore ISI decreased their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Truist Financial lowered shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 price target on the stock. in a research note on Thursday, August 1st. Royal Bank of Canada dropped their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research report on Friday. Finally, Citigroup boosted their price target on Public Storage from $303.00 to $378.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and a consensus target price of $339.64.

Public Storage Stock Down 0.7 %

NYSE PSA traded down $2.38 during trading hours on Tuesday, reaching $334.52. 163,046 shares of the company’s stock were exchanged, compared to its average volume of 714,228. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a one year low of $241.60 and a one year high of $369.99. The company’s 50-day moving average is $346.80 and its two-hundred day moving average is $312.59. The company has a market capitalization of $58.58 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 4.78 and a beta of 0.70.

Hedge Funds Weigh In On Public Storage

A number of hedge funds have recently modified their holdings of the business. OFI Invest Asset Management acquired a new position in Public Storage during the 2nd quarter worth about $32,000. Prospera Private Wealth LLC bought a new stake in Public Storage in the third quarter worth approximately $34,000. Opal Wealth Advisors LLC acquired a new position in Public Storage in the second quarter valued at approximately $36,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage during the 3rd quarter worth approximately $38,000. Finally, Crewe Advisors LLC acquired a new position in shares of Public Storage during the 1st quarter valued at $39,000. Institutional investors and hedge funds 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.