Jefferies Group Increases Public Storage Price Target to $171.00 (PSA)
Equities research analysts at Jefferies Group increased their price target on shares of Public Storage (NYSE:PSA) from $160.00 to $171.00 in a research note issued to investors on Wednesday, StockRatingsNetwork reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s target price points to a potential upside of 3.24% from the company’s current price.
A number of other firms have also recently commented on PSA. Analysts at Macquarie initiated coverage on shares of Public Storage (NYSE:PSA) in a research note to investors on Tuesday, September 10th. They set a “neutral” rating on the stock. 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Public Storage currently has an average rating of “Hold” and an average price target of $161.64.
Shares of Public Storage (NYSE:PSA) traded up 4.47% on Wednesday, hitting $165.63. 957,419 shares of the company’s stock traded hands. 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 $157.2 and its 200-day moving average is $156.6. The company has a market cap of $28.490 billion and a P/E ratio of 34.91.
Public Storage (NYSE:PSA) last released its earnings data on Friday, August 2nd. The company reported $1.80 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.62 earnings per share. Public Storage’s revenue was up 6.5% compared to the same quarter last year. 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. Investors 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 3.02%. The ex-dividend date is Wednesday, September 11th.
In other Public Storage news, SVP David F. Doll unloaded 30,000 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $153.57, for a total transaction of $4,607,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Public Storage (NYSE:PSA) is a real estate investment trust (REIT).
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