Public Storage Given New $185.00 Price Target at Barclays (PSA)
Barclays lowered their price target on shares of Public Storage (NYSE:PSA) from $192.00 to $185.00 in a research note issued on Tuesday, AR Network reports. The firm currently has an “overweight” rating on the stock. Barclays’ price objective suggests a potential upside of 21.21% from the company’s current price.
Public Storage (NYSE:PSA) traded up 1.05% on Tuesday, hitting $154.23. The stock had a trading volume of 281,404 shares. Public Storage has a 1-year low of $145.04 and a 1-year high of $176.68. The stock has a 50-day moving average of $152.2 and a 200-day moving average of $158.6. The company has a market cap of $26.538 billion and a price-to-earnings ratio of 32.46.
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 $7.42 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Ned Davis Research downgraded shares of Public Storage from a “neutral” rating to a “sell” rating in a research note to investors on Tuesday, January 21st. Finally, 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Public Storage currently has an average rating of “Hold” and an average price target of $163.33.
Public Storage (NYSE:PSA) is a real estate investment trust (REIT).
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