Public Storage Shares Soar 2.42% in Four Days, Analysts Bullish

Public Storage (PSA) shares rose 0.37% today, marking the fourth consecutive day of gains, with a total increase of 2.42% over the past four days. The share price reached its highest level since March 2025, with an intraday gain of 0.70%.

The strategy of buying PSA shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years, with a 9.7% annualized return. This suggests that while the strategy captured some of the subsequent price appreciation, the overall performance was somewhat muted due to the relatively short holding period.

Scotiabank recently increased its price target for Public Storage from $305 to $340, while maintaining an Outperform rating. This significant upward revision reflects positive analyst sentiments towards the company's future performance. The adjustment in price targets and positive ratings from analysts are likely contributing factors to the fluctuation in PSA's stock price.

Wells Fargo analyst Eric Luebchow also maintained a Buy rating for Public Storage, with a price target of $330. This suggests confidence in the stock's potential and further supports the positive outlook for the company. The combined positive ratings and price target adjustments from major analysts indicate a strong bullish sentiment towards Public Storage, which could continue to drive the stock's upward momentum.