Public Storage (NYSE:PSA) PT Set at $348.00 by Evercore ISI

Posted by on Jun 20th, 2022

Public Storage (NYSE:PSA – Get Rating) has been assigned a $348.00 price target by equities research analysts at Evercore ISI in a research note issued on Monday, Stock Target Advisor reports. Evercore ISI’s price target would suggest a potential upside of 16.57% from the company’s current price.

A number of other research analysts also recently commented on the stock. Truist Financial cut their target price on shares of Public Storage from $425.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, June 1st. Morgan Stanley cut their price objective on shares of Public Storage from $357.00 to $298.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 25th. The Goldman Sachs Group lifted their price objective on shares of Public Storage from $398.00 to $440.00 and gave the stock a “neutral” rating in a research report on Thursday, April 14th. Raymond James cut their price objective on shares of Public Storage from $375.00 to $365.00 in a research report on Monday, May 23rd. Finally, StockNews.com downgraded shares of Public Storage from a “buy” rating to a “hold” rating in a research report on Friday, June 10th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $373.09.

PSA traded down $2.25 during trading on Monday, hitting $298.54. 21,817 shares of the company traded hands, compared to its average volume of 767,153. Public Storage has a 1 year low of $292.32 and a 1 year high of $421.76. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 1.39. The stock’s 50-day simple moving average is $346.36 and its two-hundred day simple moving average is $357.90. The company has a market cap of $52.38 billion, a PE ratio of 29.01, a P/E/G ratio of 2.73 and a beta of 0.29.

Public Storage (NYSE:PSA – Get Rating) last released its earnings results on Tuesday, May 3rd. The real estate investment trust reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.96). Public Storage had a return on equity of 38.01% and a net margin of 54.79%. The firm had revenue of $749.27 million during the quarter, compared to the consensus estimate of $985.58 million. During the same quarter last year, the business posted $2.82 EPS. Public Storage’s revenue was up 15.8% compared to the same quarter last year. Equities analysts expect that Public Storage will post 15.52 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC acquired a new position in Public Storage in the fourth quarter valued at about $25,000. Mystic Asset Management Inc. acquired a new stake in shares of Public Storage during the fourth quarter worth about $26,000. Lee Financial Co acquired a new stake in shares of Public Storage during the fourth quarter worth about $27,000. CVA Family Office LLC acquired a new stake in Public Storage in the fourth quarter valued at approximately $30,000. Finally, Investors Research Corp raised its holdings in Public Storage by 102.5% in the first quarter. Investors Research Corp now owns 81 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. 78.54% of the stock is owned by hedge funds and other institutional investors.

Public Storage Company Profile (Get Rating)

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 September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

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