Watch for Continued Gains in Shares of Public Storage (PSA)

July 7, 2021 11:10:51

Shares of Public Storage (NYSE:PSA) traded today at $308.93, eclipsing its 52-week high. This new high was reached on below average trading volume as 322,000 shares traded hands, while the average 30-day volume is approximately 715,000 shares.

In the past 52 weeks, shares of Public Storage have traded between a low of $183.22 and a high of $308.93 and is now at $307.83, which is 68% above that low price.

Public Storage owns and operates over 2,500 self-storage facilities in 38 states, with over 150 million net rentable square feet of storage space. Through equity interests, it also has exposure to the European self-storage market through Shurgard Europe and to an additional 29 million net rentable square feet of commercial space in the United States through PS Business Parks.

Public Storage (NYSE:PSA) is currently priced 7.6% above its average consensus analyst price target of $284.48.

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