Public Storage Receives Hold Rating from RBC Capital (PSA)
Public Storage (NYSE:PSA)‘s stock had its “hold” rating reiterated by RBC Capital in a research note issued on Wednesday, AR Network reports. They currently have a $160.00 price target on the stock. RBC Capital’s price objective indicates a potential downside of 3.40% from the stock’s previous close.
Public Storage (NYSE:PSA) traded up 4.47% during mid-day trading on Wednesday, hitting $165.63. 957,419 shares of the company’s stock traded hands. Public Storage has a 1-year low of $135.07 and a 1-year high of $168.66. The stock has a 50-day moving average of $157.2 and a 200-day moving average of $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. Analysts expect that Public Storage will post $7.23 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Public Storage (NYSE:PSA) from $160.00 to $171.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Separately, 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.
Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Public Storage presently has a consensus rating of “Hold” and an average target price of $161.64.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Wednesday, September 11th.
In other Public Storage news, SVP David F. Doll sold 30,000 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $153.57, for a total value of $4,607,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Public Storage (NYSE:PSA) is a real estate investment trust (REIT).
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