Public Storage Given New $178.00 Price Target at JPMorgan Chase & Co. (PSA)
Equities researchers at JPMorgan Chase & Co. upped their price target on shares of Public Storage (NYSE:PSA) from $172.00 to $178.00 in a research report issued on Friday, AnalystRatings.NET reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target points to a potential upside of 5.33% from the stock’s previous close.
A number of other firms have also recently commented on PSA. Analysts at Barclays raised their price target on shares of Public Storage from $168.00 to $184.00 in a research note to investors on Tuesday, October 22nd. They now have an “overweight” rating on the stock. Separately, analysts at Raymond James downgraded shares of Public Storage from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday, October 22nd. They now have a $170.00 price target on the stock. Finally, 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. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $165.42.
Public Storage (NYSE:PSA) traded up 1.21% during mid-day trading on Friday, hitting $168.99. The stock had a trading volume of 634,380 shares. Public Storage has a one year low of $138.65 and a one year high of $176.68. The stock’s 50-day moving average is $165. and its 200-day moving average is $159.8. The company has a market cap of $29.067 billion and a price-to-earnings ratio of 36.77.
Public Storage (NYSE:PSA) last announced its earnings results on Friday, November 1st. The company reported $1.92 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.88 by $0.04. The company had revenue of $441.01 million for the quarter, compared to the consensus estimate of $474.70 million. During the same quarter in the prior year, the company posted $1.73 earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts expect that Public Storage will post $7.29 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Wednesday, December 11th. This is a boost from Public Storage’s previous quarterly dividend of $1.25.
Public Storage (NYSE:PSA) is a real estate investment trust (REIT).
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