Public Storage Downgraded to Sell at Ned Davis Research (PSA)
Public Storage (NYSE:PSA) was downgraded by stock analysts at Ned Davis Research from a “neutral” rating to a “sell” rating in a report issued on Tuesday, ARN reports.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group upgraded shares of Public Storage from a “hold” rating to a “buy” rating in a research note to investors on Thursday, January 9th. They now have a $175.00 price target on the stock, down previously from $180.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Public Storage in a research note to investors on Tuesday, January 7th. They now have a $158.00 price target on the stock. Finally, analysts at BMO Capital Markets downgraded shares of Public Storage from a “market perform” rating to an “underperform” rating in a research note to investors on Tuesday, December 17th. They now have a $140.00 price target on the stock, down previously from $157.00. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $163.25.
Public Storage (NYSE:PSA) last released its earnings data on Friday, November 1st. The company reported $1.92 earnings per share (EPS) for the quarter, beating the 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 last year, the company posted $1.73 earnings per share. Public Storage’s revenue was up 7.3% compared to the same quarter last year.
Public Storage (NYSE:PSA) is a real estate investment trust (REIT).
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