Public Storage (NYSE:PSA – Get Free Report) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “sell” rating to a “hold” rating in a report issued on Friday,Briefing.com Automated Import reports. The firm presently has a $299.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $298.00. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 1.25% from the stock’s current price.
A number of other brokerages have also recently weighed in on PSA. Truist Financial boosted their price target on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Jefferies Financial Group upped their target price on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Barclays dropped their price target on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Evercore ISI decreased their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Finally, Morgan Stanley raised their target price on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $345.57.
Check Out Our Latest Report on Public Storage
Public Storage Price Performance
Insider Activity
In other news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the sale, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its position in shares of Public Storage by 13.4% during the 2nd quarter. Private Advisor Group LLC now owns 5,161 shares of the real estate investment trust’s stock worth $1,485,000 after buying an additional 610 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Public Storage in the 2nd quarter valued at $1,459,000. PFG Investments LLC grew its holdings in shares of Public Storage by 7.7% in the 2nd quarter. PFG Investments LLC now owns 1,280 shares of the real estate investment trust’s stock worth $368,000 after purchasing an additional 91 shares during the last quarter. Choreo LLC acquired a new stake in shares of Public Storage during the 2nd quarter worth about $476,000. Finally, Achmea Investment Management B.V. lifted its holdings in Public Storage by 5.1% during the 2nd quarter. Achmea Investment Management B.V. now owns 39,397 shares of the real estate investment trust’s stock valued at $11,333,000 after purchasing an additional 1,896 shares during the last quarter. Institutional investors own 78.79% 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 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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