Evercore ISI Issues Pessimistic Forecast for Public Storage (NYSE:PSA) Stock Price

Public Storage (NYSE:PSA) had its price target decreased by equities research analysts at Evercore ISI from $317.00 to $315.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target would suggest a potential upside of 14.53% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on PSA. Royal Bank Of Canada dropped their price target on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating for the company in a research note on Friday. Barclays dropped their target price on shares of Public Storage from $351.00 to $349.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a report on Monday, October 13th. Finally, Wells Fargo & Company raised their target price on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus price target of $325.38.

Public Storage Trading Down 1.3%

Shares of PSA stock traded down $3.52 on Monday, reaching $275.04. 63,327 shares of the stock were exchanged, compared to its average volume of 819,752. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.77 and a quick ratio of 1.77. Public Storage has a one year low of $256.60 and a one year high of $355.87. The stock has a market cap of $48.26 billion, a PE ratio of 28.59, a P/E/G ratio of 4.72 and a beta of 0.89. The stock has a 50 day moving average price of $292.66 and a 200 day moving average price of $293.10.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $4.31 EPS for the quarter, topping analysts’ consensus estimates of $4.24 by $0.07. Public Storage had a return on equity of 35.67% and a net margin of 39.53%.The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the company earned $4.20 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities research analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Retirement Planning Co of New England Inc. lifted its position in Public Storage by 1.6% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 2,084 shares of the real estate investment trust’s stock valued at $624,000 after acquiring an additional 33 shares in the last quarter. Whitener Capital Management Inc. grew its holdings in shares of Public Storage by 2.3% in 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 acquiring an additional 36 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in Public Storage by 9.5% during the second quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 36 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in Public Storage by 3.5% during the second 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 during the last quarter. Finally, CoreCap Advisors LLC grew its stake in Public Storage by 7.0% in the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock valued at $164,000 after purchasing an additional 37 shares in the last quarter. 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.