Public Storage (NYSE:PSA) Now Covered by Analysts at Mizuho

Research analysts at Mizuho began coverage on shares of Public Storage (NYSE:PSA) in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage set a “neutral” rating and a $287.00 price target on the real estate investment trust’s stock. Mizuho’s price target points to a potential upside of 7.88% from the stock’s current price.

PSA has been the subject of several other research reports. Scotiabank upgraded shares of Public Storage from a “sector perform” rating to a “sector outperform” rating and set a $305.00 price target for the company in a report on Wednesday. Truist Financial reduced their price target on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Royal Bank of Canada dropped their price objective on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Wells Fargo & Company reduced their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Seven analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $332.08.

Public Storage Stock Down 3.5 %

Shares of NYSE PSA opened at $266.03 on Wednesday. The stock has a market capitalization of $46.67 billion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 4.91 and a beta of 0.76. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm’s 50-day moving average price is $298.41 and its 200-day moving average price is $315.85. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99.

Institutional Trading of Public Storage

Several hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC grew its holdings in Public Storage by 135.1% during 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 during the period. Ameriflex Group Inc. acquired a new position in Public Storage during the fourth quarter valued at $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Public Storage in the 4th quarter valued at approximately $32,000. Synergy Asset Management LLC purchased a new stake in shares of Public Storage during the fourth quarter worth $38,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Public Storage during the 4th quarter valued at about $38,000. Institutional investors 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.