Public Storage Given Consensus Recommendation of “Hold” by Brokerages (NYSE:PSA)
Shares of Public Storage (NYSE:PSA) have been given an average recommendation of “Hold” by the fifteen analysts that are currently covering the stock, Analyst Ratings.Net reports. Three analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $172.18.
A number of analysts have recently weighed in on PSA shares. Analysts at Jefferies Group downgraded shares of Public Storage from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. They now have a $175.00 price target on the stock, down previously from $185.00. Separately, analysts at Barclays raised their price target on shares of Public Storage from $189.00 to $201.00 in a research note on Tuesday, April 22nd. They now have an “overweight” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Public Storage in a research note on Wednesday, April 9th. They now have a $166.00 price target on the stock, up previously from $165.00.
Shares of Public Storage (NYSE:PSA) opened at 170.55 on Friday. Public Storage has a 1-year low of $145.04 and a 1-year high of $176.72. The stock has a 50-day moving average of $171.4 and a 200-day moving average of $162.4. The company has a market cap of $29.427 billion and a P/E ratio of 34.39.
Public Storage (NYSE:PSA) last released its earnings data on Thursday, May 1st. The company reported $1.80 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.86 by $0.06. The company had revenue of $519.62 million for the quarter, compared to the consensus estimate of $488.02 million. During the same quarter last year, the company posted $1.65 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts predict that Public Storage will post $8.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Wednesday, June 11th.
In other Public Storage news, VP Candace Krol sold 7,398 shares of the company’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $173.00, for a total value of $1,279,854.00. Following the sale, the vice president now directly owns 37,008 shares in the company, valued at approximately $6,402,384. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Public Storage (NYSE:PSA) is a real estate investment trust (REIT).
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