Public Storage’s (PSA) Underperform Rating Reiterated at Evercore ISI

Public Storage (NYSE:PSA)‘s stock had its “underperform” rating reiterated by Evercore ISI in a note issued to investors on Thursday. They presently have a $204.00 price target on the real estate investment trust’s stock, up from their previous price target of $197.00. Evercore ISI’s price objective suggests a potential downside of 4.00% from the company’s previous close.

Other analysts have also issued reports about the company. Jefferies Group LLC set a $210.00 target price on Public Storage and gave the stock a “hold” rating in a research report on Thursday, August 17th. Bank of America Corporation dropped their target price on Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a research report on Thursday, July 20th. Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub raised Public Storage from a “strong sell” rating to a “sell” rating in a research report on Friday, June 16th. Finally, Cantor Fitzgerald dropped their target price on Public Storage from $222.00 to $216.00 and set a “neutral” rating on the stock in a research report on Monday, May 22nd. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Public Storage has a consensus rating of “Hold” and a consensus price target of $214.91.

Public Storage (NYSE:PSA) traded up 1.804% on Thursday, reaching $212.505. The company had a trading volume of 629,954 shares. The firm has a 50-day moving average of $203.99 and a 200-day moving average of $212.90. The stock has a market capitalization of $36.98 billion, a P/E ratio of 30.315 and a beta of 0.42. Public Storage has a 12 month low of $192.15 and a 12 month high of $232.21.

Public Storage (NYSE:PSA) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.54 by ($0.95). Public Storage had a return on equity of 27.80% and a net margin of 53.35%. The business had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $626.27 million. During the same period in the previous year, the firm posted $2.40 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts expect that Public Storage will post $7.22 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Public Storage’s (PSA) Underperform Rating Reiterated at Evercore ISI” was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright laws. The original version of this piece of content can be viewed at https://www.chaffeybreeze.com/2017/09/14/public-storages-psa-underperform-rating-reiterated-at-evercore-isi.html.

In related news, Director Ronald P. Spogli bought 2,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was bought at an average cost of $200.59 per share, for a total transaction of $401,180.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.42% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Israel Discount Bank of New York acquired a new position in Public Storage in the first quarter valued at approximately $100,000. Bessemer Group Inc. acquired a new position in Public Storage in the second quarter valued at approximately $105,000. Northwestern Mutual Wealth Management Co. boosted its stake in Public Storage by 15.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 566 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 75 shares during the period. CENTRAL TRUST Co boosted its stake in Public Storage by 41.3% in the second quarter. CENTRAL TRUST Co now owns 578 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 169 shares during the period. Finally, Guardian Life Insurance Co. of America boosted its stake in Public Storage by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust’s stock valued at $126,000 after acquiring an additional 5 shares during the period. Institutional investors own 80.22% of the company’s stock.

Public Storage Company Profile

Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.

Analyst Recommendations for Public Storage (NYSE:PSA)

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply