Jefferies Financial Group Has Lowered Expectations for Public Storage (NYSE:PSA) Stock Price

Public Storage (NYSE:PSA) had its target price decreased by analysts at Jefferies Financial Group from $345.00 to $330.00 in a note issued to investors on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Jefferies Financial Group’s price target suggests a potential upside of 10.01% from the company’s current price.

A number of other research firms also recently commented on PSA. William Blair set a $305.00 price objective on shares of Public Storage in a report on Monday, March 16th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $330.00 price objective on shares of Public Storage in a report on Friday, February 20th. Barclays raised their price objective on shares of Public Storage from $331.00 to $347.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Truist Financial raised their price objective on shares of Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Finally, BNP Paribas Exane reduced their price objective on shares of Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $308.22.

Public Storage Price Performance

NYSE PSA opened at $299.97 on Tuesday. 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 company has a fifty day simple moving average of $291.32 and a 200 day simple moving average of $283.55. The company has a market cap of $52.65 billion, a P/E ratio of 33.26, a P/E/G ratio of 4.08 and a beta of 1.02. Public Storage has a 1 year low of $256.54 and a 1 year high of $312.95.

Institutional Investors Weigh In On Public Storage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Pacific Financial bought a new position in Public Storage during the 3rd quarter worth approximately $26,000. Bayban bought a new position in Public Storage during the 4th quarter worth approximately $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage during the 3rd quarter worth approximately $27,000. Asset Dedication LLC boosted its stake in Public Storage by 111.1% during the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 50 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in Public Storage during the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds 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.