Public Storage Lowered to Market Perform at Raymond James (PSA)
Public Storage (NYSE:PSA) was downgraded by research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report released on Tuesday, TheFlyOnTheWall.com reports. They currently have a $170.00 target price on the stock. Raymond James’ price target indicates a potential downside of 2.44% from the stock’s previous close.
Shares of Public Storage (NYSE:PSA) traded up 1.38% on Tuesday, hitting $174.26. The stock had a trading volume of 651,224 shares. Public Storage has a one year low of $135.07 and a one year high of $168.66. The stock’s 50-day moving average is $157.3 and its 200-day moving average is $156.4. The company has a market cap of $29.974 billion and a price-to-earnings ratio of 37.85.
Public Storage (NYSE:PSA) last issued its quarterly earnings data 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. On average, analysts predict that Public Storage will post $7.29 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Public Storage in a research note to investors on Friday, September 27th. They now have a $171.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Public Storage in a research note to investors on Thursday, September 26th. They now have a $171.00 price target on the stock. Finally, analysts at Argus raised their price target on shares of Public Storage from $168.00 to $180.00 in a research note to investors on Thursday, September 26th. They now have a “buy” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $164.25.
Public Storage (NYSE:PSA) is a real estate investment trust (REIT).
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