Public Storage Now Covered by Macquarie (PSA)
Equities research analysts at Macquarie started coverage on shares of Public Storage (NYSE:PSA) in a research note issued to investors on Tuesday, Stock Ratings Network.com reports. The firm set a “neutral” rating on the stock.
A number of other analysts have also recently weighed in on PSA. Analysts at Jefferies Group reiterated a “hold” rating on shares of Public Storage (NYSE:PSA) in a research note to investors on Thursday, September 5th. They now have a $160.00 price target on the stock, down previously from $165.00. Separately, analysts at RBC Capital upgraded shares of Public Storage (NYSE:PSA) from an “underperform” rating to a “sector perform” rating in a research note to investors on Monday, August 19th. They now have a $160.00 price target on the stock, up previously from $158.00. Finally, analysts at UBS AG upgraded shares of Public Storage (NYSE:PSA) from a “sell” rating to a “neutral” rating in a research note to investors on Tuesday, August 13th. They now have a $159.00 price target on the stock.
Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. Public Storage presently has a consensus rating of “Hold” and an average target price of $160.64.
Shares of Public Storage (NYSE:PSA) traded up 0.36% on Tuesday, hitting $157.47. The stock had a trading volume of 64,678 shares. Public Storage has a 52 week low of $135.07 and a 52 week high of $168.66. The stock’s 50-day moving average is $157.9 and its 200-day moving average is $156.3. The company has a market cap of $27.086 billion and a P/E ratio of 34.55.
Public Storage (NYSE:PSA) last issued its quarterly earnings data on Friday, August 2nd. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.03. The company had revenue of $485.38 million for the quarter, compared to the consensus estimate of $452.22 million. During the same quarter in the previous year, the company posted $1.62 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts predict that Public Storage will post $7.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Wednesday, September 11th.
Public Storage (NYSE:PSA) is a real estate investment trust (REIT).
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