Public Storage (NYSE:PSA) Raised to Hold at Deutsche Bank Aktiengesellschaft

Public Storage (NYSE:PSA) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage currently has a $299.00 target price on the real estate investment trust’s stock, up from their prior target price of $298.00. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 1.25% from the company’s current price.

A number of other equities analysts have also issued reports on PSA. Royal Bank of Canada decreased their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Jefferies Financial Group increased their price target on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Truist Financial lifted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Evercore ISI decreased their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Finally, Morgan Stanley raised their target price on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $345.57.

Public Storage Trading Down 1.0 %

Shares of NYSE:PSA opened at $295.30 on Friday. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market cap of $51.71 billion, a PE ratio of 30.66, a P/E/G ratio of 5.29 and a beta of 0.74. The company’s 50-day moving average price is $321.79 and its 200 day moving average price is $325.17.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PSA. Prospera Private Wealth LLC acquired a new stake in Public Storage during the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Public Storage in the third quarter worth approximately $38,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Public Storage during the third quarter worth approximately $50,000. Harbor Capital Advisors Inc. purchased a new position in Public Storage during the third quarter valued at approximately $55,000. Finally, Deseret Mutual Benefit Administrators increased its stake in Public Storage by 39.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 206 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 58 shares during the period. Hedge funds and other 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.