UBS Group Issues Positive Forecast for Public Storage (NYSE:PSA) Stock Price

Public Storage (NYSE:PSA) had its price target raised by equities researchers at UBS Group from $294.00 to $334.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group‘s price objective would indicate a potential downside of 2.50% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Weiss Ratings cut Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Truist Financial assumed coverage on Public Storage in a report on Friday, October 2nd. They issued a “buy” rating and a $317.00 target price for the company. JPMorgan Chase & Co. dropped their target price on Public Storage from $338.00 to $330.00 and set a “neutral” rating for the company in a research report on Monday, September 21st. Wells Fargo & Company set a $311.00 price target on Public Storage in a research note on Tuesday, September 1st. Finally, Mizuho lifted their price target on Public Storage from $316.00 to $319.00 and gave the company a “neutral” rating in a research note on Wednesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $325.79.

Public Storage Price Performance

PSA stock traded up $9.17 during trading on Wednesday, reaching $342.56. 2,476,184 shares of the company were exchanged, compared to its average volume of 1,060,520. The company has a market capitalization of $64.00 billion, a price-to-earnings ratio of 35.87, a P/E/G ratio of 4.96 and a beta of 0.89. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day moving average of $299.22 and a two-hundred day moving average of $303.28. Public Storage has a twelve month low of $256.54 and a twelve month high of $343.63.

Public Storage (NYSE:PSA) last issued its earnings results on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.34 billion. Public Storage had a net margin of 37.76% and a return on equity of 29.93%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.31 EPS. As a group, equities analysts predict that Public Storage will post 16.97 earnings per share for the current fiscal year.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of Public Storage stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 11.10% of the company’s stock.

Institutional Trading of Public Storage

Several large investors have recently modified their holdings of the stock. Nilsine Partners LLC boosted its stake in Public Storage by 2.9% during the second quarter. Nilsine Partners LLC now owns 1,211 shares of the real estate investment trust’s stock worth $385,000 after acquiring an additional 34 shares in the last quarter. Aegis Wealth Management Inc. grew its holdings in Public Storage by 2.5% in the third quarter. Aegis Wealth Management Inc. now owns 1,375 shares of the real estate investment trust’s stock worth $389,000 after purchasing an additional 34 shares during the period. Gryphon Financial Partners LLC increased its stake in Public Storage by 2.6% in the first quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 36 shares in the last quarter. Chesapeake Capital Corp IL increased its stake in Public Storage by 1.3% in the second quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust’s stock valued at $953,000 after purchasing an additional 38 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV increased its stake in Public Storage by 0.7% in the first quarter. Azzad Asset Management Inc. ADV now owns 5,358 shares of the real estate investment trust’s stock valued at $1,451,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.