Several brokerages have updated their recommendations and price targets on shares of Public Storage (NYSE: PSA) in the last few weeks:

  • 7/17/2017 – Public Storage was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Public Storage is one of the largest owners and operators of storage facilities in the U.S. The brand is the most recognized and established name in the self-storage industry, with presence in all major metropolitan markets of the nation. Moreover, the company’s acquisition and expansion efforts look encouraging. It also has a healthy balance-sheet position. However, there is softness in demand, with customers remaining under stress due to the current economic environment. Further, supply has been rising in a number of markets and this adversely affects the company’s pricing power. Also, shares of Public Storage underperformed the Zacks categorized REIT and Equity Trust – Other industry, over the past three months.”
  • 7/14/2017 – Public Storage had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $222.00 price target on the stock.
  • 7/11/2017 – Public Storage was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Public Storage underperformed the Zacks categorized REIT and Equity Trust – Other industry over the past three months. Notably, there is softness in demand, with customers remaining under stress due to the current economic environment. Also, supply has been rising in a number of markets and this adversely affects the company’s pricing power. Rate hike adds to its woes. Moreover, late in April, the company delivered a lower-than-expected performance for first-quarter 2017. However, Public Storage is a recognized and established name in the self-storage industry in the U.S., and its acquisition and expansion efforts look encouraging.”
  • 7/4/2017 – Public Storage was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Public Storage is one of the largest owners and operators of storage facilities in the U.S. The brand is the most recognized and established name in the self-storage industry, with presence in all major metropolitan markets of the nation. Moreover, the company’s acquisition and expansion efforts look encouraging. It also has a healthy balance-sheet position. However, there is softness in demand, with customers remaining under stress due to the current economic environment. Further, supply has been rising in a number of markets and this adversely affects the company’s pricing power. Also, shares of Public Storage underperformed the Zacks categorized REIT and Equity Trust – Other industry, over the past three months.”
  • 6/16/2017 – Public Storage was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 6/1/2017 – Public Storage was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of Public Storage underperformed the Zacks categorized REIT and Equity Trust – Other industry over the last three months. Late in April, the company delivered a lower-than-expected performance for first-quarter 2017. Its funds from operations (FFO) per share fell 3.7% short of the estimate. However, on a year-over-year basis, FFO per share registered growth of 11.4% from the prior-year quarter tally. Results reflect an improvement in net operating income (NOI) from both same-store and non-same store facilities. Admittedly, Public Storage is a recognized and established name in the self-storage industry in the U.S., and its acquisition and expansion efforts look encouraging. However, there is softness in demand, with customers remaining under stress due to the current economic environment. Also, supply has been rising in a number of markets and this adversely affects the company’s pricing power. Rate hike adds to its woes.”
  • 5/22/2017 – Public Storage had its price target lowered by analysts at Cantor Fitzgerald from $222.00 to $216.00. They now have a “neutral” rating on the stock.

Public Storage (NYSE:PSA) opened at 207.59 on Tuesday. The company has a market capitalization of $36.09 billion, a PE ratio of 29.49 and a beta of 0.41. Public Storage has a 52-week low of $200.65 and a 52-week high of $255.21. The company has a 50-day moving average price of $211.93 and a 200 day moving average price of $218.32.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $2.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.42 by $0.05. The business had revenue of $645.55 million for the quarter, compared to analysts’ expectations of $615.23 million. Public Storage had a net margin of 54.13% and a return on equity of 27.74%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.21 earnings per share. Equities research analysts anticipate that Public Storage will post $7.33 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Wednesday, June 14th were paid a $2.00 dividend. The ex-dividend date was Monday, June 12th. This represents a $8.00 annualized dividend and a yield of 3.85%. Public Storage’s dividend payout ratio (DPR) is 113.64%.

In other Public Storage news, insider John Reyes sold 65,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $208.44, for a total value of $13,548,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 14.42% of the stock is owned by company insiders.

Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.

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