Public Storage (NYSE:PSA) Stock Rating Upgraded by Mizuho

Public Storage (NYSE:PSA) was upgraded by investment analysts at Mizuho to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Barclays reaffirmed 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. Wells Fargo & Company decreased their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and increased their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Royal Bank of Canada decreased their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Finally, Truist Financial decreased their price target on Public Storage from $316.00 to $310.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average price target of $332.08.

Public Storage Price Performance

Shares of PSA stock opened at $282.35 on Tuesday. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The stock’s 50-day moving average is $297.78 and its 200 day moving average is $315.04. The company has a market cap of $49.53 billion, a P/E ratio of 29.32, a PEG ratio of 4.91 and a beta of 0.76. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Institutional Trading of Public Storage

Several hedge funds and other institutional investors have recently bought and sold shares of PSA. Continuum Advisory LLC grew its holdings in Public Storage by 7.6% during the third quarter. Continuum Advisory LLC now owns 549 shares of the real estate investment trust’s stock worth $182,000 after acquiring an additional 39 shares during the period. Barclays PLC grew its holdings in Public Storage by 2.9% in the third quarter. Barclays PLC now owns 465,653 shares of the real estate investment trust’s stock valued at $169,433,000 after purchasing an additional 13,065 shares during the period. Coldstream Capital Management Inc. grew its holdings in Public Storage by 16.9% in the third quarter. Coldstream Capital Management Inc. now owns 1,993 shares of the real estate investment trust’s stock valued at $718,000 after purchasing an additional 288 shares during the period. Toronto Dominion Bank grew its holdings in Public Storage by 49.0% in the third quarter. Toronto Dominion Bank now owns 78,471 shares of the real estate investment trust’s stock valued at $28,553,000 after purchasing an additional 25,805 shares during the period. Finally, Sunbelt Securities Inc. grew its holdings in Public Storage by 42.3% in the third quarter. Sunbelt Securities Inc. now owns 919 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 273 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

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.