Jefferies Group Reiterates Hold Rating for Public Storage (PSA)
Public Storage (NYSE:PSA)‘s stock had its “hold” rating restated by research analysts at Jefferies Group in a report released on Thursday, American Banking and Market News reports. They currently have a $171.00 target price on the stock. Jefferies Group’s price target would suggest a potential upside of 5.38% from the company’s current price.
Public Storage (NYSE:PSA) traded up 0.22% on Thursday, hitting $162.63. 22,812 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 has a 50-day moving average of $157.6 and a 200-day moving average of $157.0. The company has a market cap of $27.974 billion and a price-to-earnings ratio of 35.73.
Public Storage (NYSE:PSA) last posted its quarterly earnings results on Friday, August 2nd. The company reported $1.80 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.62 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts expect that Public Storage will post $7.24 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on PSA. Analysts at Argus raised their price target on shares of Public Storage (NYSE:PSA) from $168.00 to $180.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital reiterated a “hold” rating on shares of Public Storage (NYSE:PSA) in a research note to investors on Wednesday, September 18th. They now have a $160.00 price target on the stock. Finally, 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $163.17.
Public Storage (NYSE:PSA) is a real estate investment trust (REIT).
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