Brokerages Set Public Storage (NYSE:PSA) Price Target at $306.63

Public Storage (NYSE:PSA) has been given an average recommendation of “Hold” by the eighteen research firms that are presently covering the firm, Marketbeat reports. Twelve analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $306.6250.

Several research firms have weighed in on PSA. BNP Paribas Exane cut their price objective on Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. Raymond James Financial lowered their target price on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 18th. Wall Street Zen lowered shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Wells Fargo & Company lowered shares of Public Storage from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $330.00 to $295.00 in a research report on Thursday, February 5th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $301.00 target price (down from $316.00) on shares of Public Storage in a research report on Thursday, December 18th.

Institutional Trading of Public Storage

Large investors have recently bought and sold shares of the company. Patrick M Sweeney & Associates Inc. grew its stake in shares of 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 worth $317,000 after acquiring an additional 36 shares during the period. CoreCap Advisors LLC boosted its position in Public Storage by 7.0% during the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock worth $164,000 after purchasing an additional 37 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in Public Storage by 1.7% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock worth $575,000 after purchasing an additional 37 shares during the period. Raiffeisen Bank International AG increased its stake in shares of Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 37 shares in the last quarter. Finally, Evermay Wealth Management LLC raised its position in shares of Public Storage by 13.3% in the second quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 38 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Price Performance

Public Storage stock opened at $300.55 on Friday. Public Storage has a 52 week low of $256.54 and a 52 week high of $322.49. The company’s 50 day moving average price is $275.90 and its two-hundred day moving average price is $282.15. The stock has a market cap of $52.73 billion, a P/E ratio of 33.32, a P/E/G ratio of 10.24 and a beta of 1.01. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05.

About Public Storage

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.