Public Storage (NYSE:PSA) Earns Underperform Rating from Analysts at BMO Capital Markets

Stock analysts at BMO Capital Markets assumed coverage on shares of Public Storage (NYSE:PSA) in a report released on Monday, September 11th, MarketBeat reports. The firm set an “underperform” rating and a $193.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ price target indicates a potential downside of 9.86% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Argus dropped their price target on shares of Public Storage from $260.00 to $250.00 and set a “buy” rating on the stock in a research note on Tuesday, August 1st. Barclays PLC dropped their price target on shares of Public Storage from $216.00 to $209.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Jefferies Group LLC reiterated a “hold” rating and set a $222.00 price objective on shares of Public Storage in a research note on Friday, July 14th. Finally, Bank of America Corporation lowered their price objective on shares of Public Storage from $222.00 to $218.00 and set a “neutral” rating on the stock in a research note on Thursday, July 20th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $214.91.

Shares of Public Storage (NYSE PSA) opened at 214.87 on Monday. The stock has a market capitalization of $37.39 billion, a PE ratio of 30.65 and a beta of 0.42. Public Storage has a 52 week low of $192.15 and a 52 week high of $232.21. The company’s 50 day moving average price is $205.20 and its 200-day moving average price is $212.38.

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

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In other Public Storage news, Director Ronald P. Spogli purchased 2,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average price of $200.59 per share, for a total transaction of $401,180.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.42% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Hanson McClain Inc. boosted its stake in Public Storage by 0.3% in the 1st quarter. Hanson McClain Inc. now owns 685 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 2 shares during the period. Guardian Life Insurance Co. of America boosted its stake in Public Storage by 0.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 5 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in Public Storage by 0.3% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,668 shares of the real estate investment trust’s stock worth $348,000 after purchasing an additional 5 shares during the period. Merriman Wealth Management LLC boosted its stake in Public Storage by 0.3% in the 2nd quarter. Merriman Wealth Management LLC now owns 1,920 shares of the real estate investment trust’s stock worth $400,000 after purchasing an additional 5 shares during the period. Finally, Concorde Asset Management LLC boosted its stake in Public Storage by 0.3% in the 2nd quarter. Concorde Asset Management LLC now owns 2,511 shares of the real estate investment trust’s stock worth $523,000 after purchasing an additional 8 shares during the period. 80.15% of the stock is owned by hedge funds and other institutional investors.

About Public Storage

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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