Public Storage (NYSE:PSA) Stock Price Expected to Rise, Evercore ISI Analyst Says

Key Points

• Evercore ISI raised its price target for Public Storage (NYSE:PSA) from $309.00 to $312.00, suggesting a potential upside of 7.71% from the company's previous close.
• Public Storage's stock has received various ratings, with one analyst issuing a Strong Buy rating, seven a Buy rating, and six a Hold rating, resulting in an average price target of $331.85.
• The company reported earnings per share (EPS) of $4.28 for the last quarter, exceeding analysts' expectations, and set its FY 2025 guidance at 16.450-17.00 EPS.

Public Storage (NYSE:PSA - Get Free Report) had its price target raised by equities researchers at Evercore ISI from $309.00 to $312.00 in a report released on Monday,Benzinga reports. The firm currently has an "in-line" rating on the real estate investment trust's stock. Evercore ISI's price target would suggest a potential upside of 7.71% from the company's previous close.

PSA has been the topic of a number of other research reports. BNP Paribas upgraded Public Storage to a "strong-buy" rating in a report on Tuesday, June 24th. BNP Paribas Exane assumed coverage on Public Storage in a research report on Tuesday, June 24th. They set an "outperform" rating and a $331.00 price objective for the company. Wells Fargo & Company cut their price objective on Public Storage from $330.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Mizuho raised their price objective on Public Storage from $287.00 to $309.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Finally, Scotiabank dropped their target price on Public Storage from $340.00 to $333.00 and set a "sector outperform" rating for the company in a research report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Public Storage has an average rating of "Moderate Buy" and an average price target of $331.85.

Public Storage Price Performance

Shares of NYSE:PSA traded up $0.34 during midday trading on Monday, reaching $289.66. 32,702 shares of the company's stock traded hands, compared to its average volume of 786,368. 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 $50.82 billion, a P/E ratio of 31.57, a PEG ratio of 4.85 and a beta of 0.86. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.77 and a current ratio of 1.77. The company has a fifty day simple moving average of $287.40 and a two-hundred day simple moving average of $293.40.

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

Institutional Trading of Public Storage

Several large investors have recently bought and sold shares of PSA. Retirement Planning Co of New England Inc. lifted its position in Public Storage by 1.6% during the first quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust's stock worth $624,000 after buying an additional 33 shares during the period. Shum Financial Group Inc. raised its holdings in shares of Public Storage by 1.7% during the 1st quarter. Shum Financial Group Inc. now owns 2,089 shares of the real estate investment trust's stock valued at $625,000 after buying an additional 35 shares during the period. Whitener Capital Management Inc. raised its holdings in shares of Public Storage by 2.3% during the 2nd quarter. Whitener Capital Management Inc. now owns 1,610 shares of the real estate investment trust's stock valued at $472,000 after buying an additional 36 shares during the period. Rosenberg Matthew Hamilton grew its stake in Public Storage by 9.5% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust's stock valued at $122,000 after purchasing an additional 36 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its stake in Public Storage by 3.5% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust's stock valued at $317,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds 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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