Public Storage (PSA) Upgraded to Hold by Jefferies Financial Group

Public Storage (NYSE:PSA) was upgraded by research analysts at Jefferies Financial Group from an “underperform” rating to a “hold” rating in a note issued to investors on Tuesday, April 9th, Marketbeat Ratings reports. The brokerage presently has a $201.00 target price on the real estate investment trust’s stock, up from their previous target price of $181.00. Jefferies Financial Group’s target price would suggest a potential downside of 11.36% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Barclays reissued a “hold” rating and set a $215.00 price objective on shares of Public Storage in a research report on Thursday, March 7th. Bank of America set a $230.00 target price on shares of Public Storage and gave the stock a “hold” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $211.88.

Shares of NYSE:PSA traded down $0.11 during trading hours on Tuesday, reaching $226.75. The stock had a trading volume of 462,119 shares, compared to its average volume of 889,487. Public Storage has a 1 year low of $193.89 and a 1 year high of $234.90. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.28. The company has a market cap of $39.57 billion, a PE ratio of 21.47, a P/E/G ratio of 5.18 and a beta of 0.26.

Public Storage (NYSE:PSA) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $1.73 EPS for the quarter, missing the Zacks’ consensus estimate of $2.52 by ($0.79). Public Storage had a net margin of 62.12% and a return on equity of 34.56%. The company had revenue of $689.00 million during the quarter, compared to analysts’ expectations of $685.75 million. During the same period last year, the business earned $2.48 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts expect that Public Storage will post 10.68 EPS for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in PSA. Sage Capital Advisors llc purchased a new position in Public Storage during the 4th quarter valued at about $29,000. Liberty Wealth Management LLC purchased a new position in Public Storage during the 4th quarter valued at about $37,000. Cornerstone Advisors Inc. increased its holdings in Public Storage by 42.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 202 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 60 shares in the last quarter. CNB Bank purchased a new position in Public Storage during the 4th quarter valued at about $42,000. Finally, Truvestments Capital LLC purchased a new position in Public Storage during the 1st quarter valued at about $48,000. Hedge funds and other institutional investors own 80.79% of the company’s stock.

About Public Storage

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California. At December 31, 2018, we had interests in 2,429 self-storage facilities located in 38 states with approximately 162 million net rentable square feet in the United States and we owned a 35.2% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR), which owned 232 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the “Shurgard” brand.

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Analyst Recommendations for Public Storage (NYSE:PSA)

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