Evercore Raises Public Storage (NYSE:PSA) Price Target to $318.00

Key Points

• Evercore raised its price target on Public Storage from $317 to $318, implying a slight downside from the stock’s previous close.
• Analyst sentiment remains mixed overall: the stock has a consensus Hold rating, with an average price target of $324.68 across coverage.
• Public Storage recently beat earnings expectations, reporting $2.71 EPS versus the $2.42 estimate, while revenue came in at $1.22 billion and the company guided FY2026 EPS to 16.35-17.00.

Public Storage (NYSE:PSA - Get Free Report) had its price target lifted by analysts at Evercore from $317.00 to $318.00 in a research report issued on Tuesday,MarketScreener reports. Evercore's target price suggests a potential downside of 1.78% from the stock's previous close.

A number of other research analysts have also commented on the company. Weiss Ratings upgraded Public Storage from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 12th. BMO Capital Markets raised their price target on Public Storage from $305.00 to $340.00 and gave the company a "market perform" rating in a report on Monday, June 15th. Citigroup lifted their price objective on Public Storage from $325.00 to $363.00 and gave the stock a "buy" rating in a research report on Tuesday, June 16th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $341.00 target price on shares of Public Storage in a research note on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of Public Storage from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $324.68.

Public Storage Price Performance

PSA traded up $3.55 during midday trading on Tuesday, hitting $323.77. The company had a trading volume of 123,626 shares, compared to its average volume of 1,116,068. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $56.84 billion, a PE ratio of 33.49, a P/E/G ratio of 4.28 and a beta of 0.98. Public Storage has a twelve month low of $256.54 and a twelve month high of $331.79. The firm's 50-day simple moving average is $307.41 and its 200-day simple moving average is $290.80.

Public Storage (NYSE:PSA - Get Free Report) last announced its earnings results on Monday, April 27th. The real estate investment trust reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.42 by $0.29. Public Storage had a net margin of 39.16% and a return on equity of 37.78%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business earned $4.12 earnings per share. Public Storage's quarterly revenue was down .1% on a year-over-year basis. Public Storage has set its FY 2026 guidance at 16.350-17.000 EPS. Equities research analysts predict that Public Storage will post 16.94 EPS for the current fiscal year.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 950 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $324.81, for a total value of $308,569.50. Following the completion of the sale, the insider owned 1,414 shares in the company, valued at $459,281.34. This represents a 40.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 11.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Public Storage by 25.3% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 18,610 shares of the real estate investment trust's stock worth $4,829,000 after acquiring an additional 3,763 shares during the period. Barclays PLC raised its stake in Public Storage by 93.8% in the 3rd quarter. Barclays PLC now owns 602,959 shares of the real estate investment trust's stock valued at $174,165,000 after acquiring an additional 291,895 shares during the period. Aster Capital Management DIFC Ltd raised its stake in Public Storage by 777.1% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 2,605 shares of the real estate investment trust's stock valued at $752,000 after acquiring an additional 2,308 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Public Storage by 5.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 458,815 shares of the real estate investment trust's stock valued at $118,576,000 after purchasing an additional 25,353 shares during the last quarter. Finally, Swiss Life Asset Management Ltd lifted its holdings in Public Storage by 16.0% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 34,448 shares of the real estate investment trust's stock valued at $9,950,000 after purchasing an additional 4,762 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Company Profile

Public Storage NYSE: PSA is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company's core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.

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