BMO Capital Markets Lowers Public Storage (NYSE:PSA) Price Target to $305.00

Public Storage (NYSE:PSA) had its price objective decreased by investment analysts at BMO Capital Markets from $320.00 to $305.00 in a note issued to investors on Monday,MarketScreener reports. The firm currently has a “market perform” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price points to a potential upside of 16.43% from the stock’s current price.

PSA has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft raised Public Storage from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a report on Monday, October 13th. Scotiabank dropped their price target on Public Storage from $340.00 to $333.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 28th. Morgan Stanley initiated coverage on shares of Public Storage in a report on Friday, December 5th. They issued an “equal weight” rating and a $290.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Finally, UBS Group reduced their price target on shares of Public Storage from $295.00 to $293.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 18th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and a consensus price target of $317.80.

Public Storage Stock Performance

Public Storage stock opened at $261.96 on Monday. The stock has a market cap of $45.96 billion, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 5.56 and a beta of 1.01. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. Public Storage has a 52 week low of $256.60 and a 52 week high of $322.49. The stock has a 50 day moving average of $277.99 and a 200-day moving average of $285.43.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.24 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.20 EPS. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. On average, analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall & Sullivan Inc. WA bought a new stake in shares of Public Storage in the 2nd quarter valued at approximately $25,000. Harbor Asset Planning Inc. acquired a new position in Public Storage in the 2nd quarter valued at $25,000. First Pacific Financial bought a new position in shares of Public Storage in the third quarter worth about $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage in the 3rd quarter worth approximately $27,000. Finally, Asset Dedication LLC raised its stake in Public Storage by 111.1% during the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 50 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

About Public Storage

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.