Evercore Lowers Public Storage (NYSE:PSA) Price Target to $309.00

Public Storage (NYSE:PSA) had its price objective lowered by investment analysts at Evercore from $311.00 to $309.00 in a note issued to investors on Monday,MarketScreener reports. Evercore’s target price points to a potential upside of 1.67% from the stock’s current price.

Several other brokerages have also recently issued reports on PSA. UBS Group lowered their target price on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Scotiabank upped their target price on shares of Public Storage from $319.00 to $321.00 and gave the company a “sector outperform” rating in a report on Monday, March 23rd. Wall Street Zen downgraded shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Sunday, March 29th. The Goldman Sachs Group reiterated a “buy” rating and issued a $330.00 price target on shares of Public Storage in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Public Storage from $295.00 to $291.00 and set a “neutral” rating for the company in a research report on Monday, March 23rd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $308.22.

Public Storage Trading Up 2.6%

Shares of Public Storage stock opened at $303.92 on Monday. The company has a fifty day simple moving average of $291.09 and a 200-day simple moving average of $283.43. Public Storage has a 12-month low of $256.54 and a 12-month high of $312.95. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.05. The stock has a market cap of $53.34 billion, a price-to-earnings ratio of 33.69, a PEG ratio of 6.07 and a beta of 1.02.

Institutional Trading of Public Storage

Several institutional investors and hedge funds have recently bought and sold shares of the business. National Pension Service raised its position in Public Storage by 4.2% during the 3rd quarter. National Pension Service now owns 255,300 shares of the real estate investment trust’s stock worth $73,743,000 after buying an additional 10,345 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in Public Storage by 57.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 4,974 shares of the real estate investment trust’s stock worth $1,437,000 after buying an additional 1,816 shares during the last quarter. Cornerstone Planning Group LLC raised its position in Public Storage by 14,992.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 11,772 shares of the real estate investment trust’s stock worth $3,400,000 after buying an additional 11,694 shares during the last quarter. Jones Financial Companies Lllp raised its position in Public Storage by 19.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 41,094 shares of the real estate investment trust’s stock worth $11,766,000 after buying an additional 6,814 shares during the last quarter. Finally, Vanderbilt University raised its position in Public Storage by 103.1% during the 3rd quarter. Vanderbilt University now owns 9,112 shares of the real estate investment trust’s stock worth $2,632,000 after buying an additional 4,626 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

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.