Stock analysts at Morgan Stanley started coverage on shares of Public Storage (NYSE:PSA – Get Free Report) in a research report issued on Thursday, Marketbeat Ratings reports. The firm set an “equal weight” rating and a $250.00 price target on the real estate investment trust’s stock. Morgan Stanley’s price target would suggest a potential downside of 5.30% from the company’s current price.
Several other equities analysts have also weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Public Storage from $360.00 to $340.00 and set a “buy” rating on the stock in a research report on Wednesday, September 13th. StockNews.com began coverage on shares of Public Storage in a report on Wednesday, August 23rd. They issued a “hold” rating on the stock. JPMorgan Chase & Co. decreased their price target on Public Storage from $338.00 to $324.00 in a research note on Tuesday, June 13th. Finally, Truist Financial decreased their price target on shares of Public Storage from $320.00 to $305.00 and set a “buy” rating on the stock in a report on Tuesday, August 29th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.75.
View Our Latest Stock Report on PSA
Public Storage Price Performance
Institutional Trading of Public Storage
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its position in shares of Public Storage by 200.0% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 90 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 60 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Public Storage in the 1st quarter worth approximately $26,000. GPS Wealth Strategies Group LLC purchased a new position in shares of Public Storage in the 1st quarter worth about $29,000. Focused Wealth Management Inc purchased a new position in shares of Public Storage in the 2nd quarter worth about $29,000. Finally, ICA Group Wealth Management LLC purchased a new position in Public Storage in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 78.75% of the company’s stock.
Public Storage Company Profile
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 June 30, 2023, we had: (i) interests in 2,888 self-storage facilities located in 40 states with approximately 206 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 266 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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