Public Storage (NYSE:PSA) Price Target Cut to $295.00 by Analysts at UBS Group

Key Points

• UBS Group has lowered its price target for Public Storage (NYSE:PSA) from $305.00 to $295.00, maintaining a "neutral" rating, which indicates a potential upside of 2.86% from the stock's previous close.
• Institutional investors hold a significant portion of Public Storage shares, with 78.79% ownership, and several analysts have shifted their ratings on the stock, reflecting varied investor sentiment.
• The company reported an EPS of $4.28 for the last quarter, surpassing expectations, with revenues totaling $1.20 billion and guidance for FY 2025 set between $16.450-$17.00 EPS.

Public Storage (NYSE:PSA - Get Free Report) had its price target dropped by UBS Group from $305.00 to $295.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. UBS Group's price objective points to a potential upside of 2.86% from the stock's previous close.

Several other brokerages have also recently weighed in on PSA. Wall Street Zen cut shares of Public Storage from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Scotiabank dropped their target price on shares of Public Storage from $340.00 to $333.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 28th. BMO Capital Markets cut shares of Public Storage from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $340.00 to $325.00 in a research report on Friday, June 20th. Mizuho raised their price target on shares of Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Finally, Evercore ISI raised their price target on shares of Public Storage from $309.00 to $312.00 and gave the stock an "in-line" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Public Storage presently has an average rating of "Moderate Buy" and an average price target of $329.21.

Public Storage Stock Performance

Shares of Public Storage stock opened at $286.79 on Tuesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.04. The business has a 50-day moving average price of $287.29 and a two-hundred day moving average price of $293.28. Public Storage has a 1-year low of $256.60 and a 1-year high of $369.99. The company has a market cap of $50.32 billion, a P/E ratio of 31.25, a PEG ratio of 4.85 and a beta of 0.86.

Public Storage (NYSE:PSA - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $4.28 EPS for the quarter, beating the consensus estimate of $4.23 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Public Storage had a return on equity of 34.06% and a net margin of 38.13%.The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $4.23 EPS. Public Storage has set its FY 2025 guidance at 16.450-17.00 EPS. As a group, analysts anticipate that Public Storage will post 16.7 EPS for the current year.

Institutional Investors Weigh In On Public Storage

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall & Sullivan Inc. WA purchased a new stake in shares of Public Storage during the second quarter valued at approximately $25,000. Harbor Asset Planning Inc. purchased a new stake in shares of Public Storage during the second quarter valued at approximately $25,000. Asset Dedication LLC grew its holdings in shares of Public Storage by 111.1% during the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 50 shares during the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Public Storage during the fourth quarter valued at approximately $30,000. Finally, Spectrum Wealth Counsel LLC purchased a new stake in Public Storage in the first quarter worth approximately $30,000. 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.

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