Wells Fargo analyst Eric Luebchow maintained a Hold rating on Public Storage (PSA – Research Report) today and set a price target of $280.00. The company’s shares closed yesterday at $284.90.
Luebchow covers the Real Estate sector, focusing on stocks such as American Tower, Crown Castle, and Digital Realty. According to TipRanks, Luebchow has an average return of -0.7% and a 46.67% success rate on recommended stocks.
Currently, the analyst consensus on Public Storage is a Moderate Buy with an average price target of $302.25.
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Based on Public Storage’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.14 billion and a net profit of $613.3 million. In comparison, last year the company earned a revenue of $1.09 billion and had a net profit of $2.77 billion
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PSA in relation to earlier this year. Most recently, in December 2023, John Reyes, a Director at PSA sold 50,000.00 shares for a total of $13,798,989.02.
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Public Storage (PSA) Company Description:
Public Storage engages in self-storage services in the United States. The company acquires, develops, owns and operates self-storage facilities, which it provides on a monthly rental basis for business and personal use. It has interest in over 2,500 self-storage facilities located across 38 states.
Read More on PSA:
- Public Storage initiated with a Sell at Deutsche Bank
- Public Storage price target raised to $339 from $287 at Jefferies
- Public Storage price target raised to $315 from $285 at Truist
- Public Storage price target raised to $303 from $250 at Morgan Stanley
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