Public Storage's (PSA) "Sector Perform" Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reaffirmed its “Sector Perform” rating on Public Storage, with a $318 price target implying 5.82% upside from the prior close.
• Analyst sentiment remains cautious: seven analysts rate the stock a Buy and 14 rate it a Hold, resulting in an overall “Hold” consensus and an average price target of $323.42.
• Public Storage reported quarterly EPS of $4.17, exceeding estimates of $2.53, while revenue matched expectations at $1.23 billion but declined 0.5% year over year.

Public Storage (NYSE:PSA - Get Free Report)'s stock had its "sector perform" rating restated by equities research analysts at Royal Bank Of Canada in a research report issued on Tuesday, Benzinga reports. They currently have a $318.00 price objective on the real estate investment trust's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 5.82% from the company's previous close.

Other analysts have also issued research reports about the company. Scotiabank cut their target price on Public Storage from $346.00 to $343.00 and set a "sector outperform" rating for the company in a research note on Wednesday, September 2nd. Raymond James Financial assumed coverage on Public Storage in a research note on Thursday, July 16th. They set a "market perform" rating for the company. Evercore set a $308.00 price objective on Public Storage in a research note on Monday, September 21st. Wells Fargo & Company set a $311.00 price objective on Public Storage in a research note on Tuesday, September 1st. Finally, Weiss Ratings lowered Public Storage from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $323.42.

Public Storage Price Performance

Shares of NYSE PSA traded up $4.83 during midday trading on Tuesday, hitting $300.52. 41,794 shares of the company's stock were exchanged, compared to its average volume of 1,056,495. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.06. The company has a market cap of $52.78 billion, a price-to-earnings ratio of 28.74, a PEG ratio of 4.45 and a beta of 0.94. The business's fifty day moving average price is $301.07 and its two-hundred day moving average price is $307.68.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results on Wednesday, July 29th. The real estate investment trust reported $4.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $1.64. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.23 billion. Public Storage had a return on equity of 40.98% and a net margin of 41.80%. Public Storage's revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.28 earnings per share. Public Storage has set its FY 2026 guidance at 16.750-17.050 EPS. As a group, research analysts forecast that Public Storage will post 16.93 EPS for the current fiscal year.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 1,414 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Public Storage

Several institutional investors have recently modified their holdings of PSA. BlackRock Inc. bought a new stake in Public Storage during the 2nd quarter valued at approximately $5,495,077,000. Dimensional Fund Advisors LP raised its holdings in Public Storage by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,280,540 shares of the real estate investment trust's stock valued at $617,720,000 after buying an additional 67,787 shares during the period. Legal & General Group Plc purchased a new stake in Public Storage during the 2nd quarter valued at $601,650,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Public Storage during the 2nd quarter valued at $558,904,000. Finally, Deutsche Bank AG purchased a new stake in shares of Public Storage in the 2nd quarter worth $400,776,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

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.