Public Storage (NYSE:PSA) Price Target Lowered to $361.00 at Barclays

Public Storage (NYSE:PSA) had its price target dropped by stock analysts at Barclays from $380.00 to $361.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price objective indicates a potential upside of 25.06% from the company’s current price.

PSA has been the subject of a number of other research reports. Jefferies Financial Group increased their price target on shares of Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company dropped their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Truist Financial raised their target price on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. 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 report on Wednesday, October 2nd. Finally, Evercore ISI decreased their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Seven research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $344.54.

Public Storage Stock Down 2.3 %

Shares of Public Storage stock opened at $288.65 on Monday. The company has a market cap of $50.55 billion, a P/E ratio of 29.97, a PEG ratio of 5.29 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a one year low of $256.31 and a one year high of $369.99. The firm has a fifty day moving average of $321.09 and a two-hundred day moving average of $325.66.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Public Storage

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Czech National Bank increased its position in Public Storage by 6.5% in the 4th quarter. Czech National Bank now owns 34,170 shares of the real estate investment trust’s stock worth $10,232,000 after buying an additional 2,083 shares during the period. Graypoint LLC boosted its stake in Public Storage by 7.5% in the 4th quarter. Graypoint LLC now owns 747 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 52 shares in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Public Storage by 70.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 255 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 105 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Public Storage in the 4th quarter valued at $7,849,000. Finally, Doliver Advisors LP raised its position in shares of Public Storage by 2.6% during the fourth quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust’s stock worth $433,000 after acquiring an additional 36 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

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.