Truist Financial Has Lowered Expectations for Public Storage (NYSE:PSA) Stock Price

Public Storage (NYSE:PSA) had its price target reduced by investment analysts at Truist Financial from $316.00 to $310.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price target would suggest a potential upside of 4.88% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Scotiabank reduced their price objective on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. Barclays reiterated an “overweight” rating and set a $354.00 price objective (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company reduced their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Finally, Royal Bank of Canada reduced their price objective on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $338.00.

Public Storage Stock Down 1.0 %

PSA opened at $295.57 on Tuesday. 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 fifty-two week low of $256.31 and a fifty-two week high of $369.99. The firm’s fifty day moving average is $299.90 and its 200 day moving average is $322.67. The stock has a market cap of $51.85 billion, a price-to-earnings ratio of 30.69, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73.

Institutional Investors Weigh In On Public Storage

Large investors have recently bought and sold shares of the business. Quent Capital LLC increased its position 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 valued at $26,000 after acquiring an additional 50 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Public Storage during the third quarter valued at $34,000. Ameriflex Group Inc. bought a new position in Public Storage during the fourth quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new position in Public Storage during the fourth quarter valued at $32,000. Finally, Synergy Asset Management LLC bought a new position in Public Storage during the fourth quarter valued at $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.