Public Storage (NYSE:PSA) Price Target Lowered to $330.00 at Wells Fargo & Company

Public Storage (NYSE:PSA) had its price objective reduced by Wells Fargo & Company from $365.00 to $330.00 in a research note released on Friday morning,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

A number of other analysts have also recently weighed in on PSA. Barclays dropped their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and increased their target price for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial increased their target price on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada dropped their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $341.85.

Public Storage Stock Up 0.1 %

Shares of NYSE:PSA opened at $304.30 on Friday. 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 company has a fifty day simple moving average of $298.12 and a 200 day simple moving average of $325.39. The firm has a market cap of $53.29 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 11.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Public Storage

A number of institutional investors and hedge funds have recently bought and sold shares of PSA. Quent Capital LLC grew its position in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 50 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Public Storage in the 4th quarter valued at about $32,000. Prospera Private Wealth LLC bought a new position in Public Storage in the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new position in Public Storage in the 3rd quarter valued at about $38,000. Finally, Synergy Asset Management LLC bought a new position in Public Storage in the 4th quarter valued at about $38,000. Institutional investors own 78.79% of the company’s stock.

About Public Storage

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.