Public Storage (PSA) Given a $179.00 Price Target by KeyCorp Analysts

Public Storage (NYSE:PSA) has been assigned a $179.00 price objective by KeyCorp in a research report issued to clients and investors on Thursday. The firm currently has a “sell” rating on the real estate investment trust’s stock. KeyCorp’s price objective indicates a potential downside of 9.60% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Cantor Fitzgerald restated a “hold” rating and set a $213.00 target price on shares of Public Storage in a research note on Wednesday, February 21st. Zacks Investment Research downgraded Public Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Jefferies Group set a $212.00 target price on Public Storage and gave the company a “hold” rating in a research note on Tuesday, November 28th. Bank of America downgraded Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 target price for the company. in a research note on Monday, December 4th. They noted that the move was a valuation call. Finally, Robert W. Baird downgraded Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 target price for the company. in a research note on Tuesday, November 28th. Seven equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. Public Storage has a consensus rating of “Hold” and an average price target of $204.47.

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Shares of Public Storage (NYSE PSA) opened at $198.01 on Thursday. Public Storage has a 52 week low of $180.48 and a 52 week high of $232.21. The firm has a market capitalization of $34,001.54, a P/E ratio of 19.50, a P/E/G ratio of 3.86 and a beta of 0.31.

Public Storage (NYSE:PSA) last announced its earnings results on Tuesday, February 20th. The real estate investment trust reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.03. Public Storage had a return on equity of 27.48% and a net margin of 51.16%. The firm had revenue of $634.22 million during the quarter, compared to the consensus estimate of $643.46 million. During the same quarter in the prior year, the company earned $2.03 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. equities analysts forecast that Public Storage will post 10.53 earnings per share for the current year.

In other Public Storage news, SVP Lily Yan Hughes sold 443 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $194.53, for a total value of $86,176.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 14.42% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in PSA. Nationwide Fund Advisors lifted its position in shares of Public Storage by 5.7% in the 3rd quarter. Nationwide Fund Advisors now owns 125,152 shares of the real estate investment trust’s stock worth $26,781,000 after acquiring an additional 6,757 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of Public Storage by 13.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,507 shares of the real estate investment trust’s stock worth $8,240,000 after acquiring an additional 4,491 shares during the period. Candriam Luxembourg S.C.A. lifted its position in shares of Public Storage by 2.4% in the 3rd quarter. Candriam Luxembourg S.C.A. now owns 11,960 shares of the real estate investment trust’s stock worth $2,559,000 after acquiring an additional 279 shares during the period. New York State Common Retirement Fund lifted its position in shares of Public Storage by 2.3% in the 3rd quarter. New York State Common Retirement Fund now owns 465,500 shares of the real estate investment trust’s stock worth $99,612,000 after acquiring an additional 10,500 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Public Storage by 4.8% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 38,509 shares of the real estate investment trust’s stock worth $8,241,000 after acquiring an additional 1,768 shares during the period. Institutional investors own 81.75% of the company’s stock.

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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)

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