Public Storage (NYSE:PSA) had its price target dropped by equities researchers at Bank of America Corporation from $222.00 to $218.00 in a research report issued on Thursday. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Bank of America Corporation’s target price indicates a potential upside of 5.05% from the company’s current price.

Other analysts also recently issued reports about the company. Jefferies Group LLC restated a “hold” rating and set a $222.00 price objective on shares of Public Storage in a report on Friday, July 14th. Zacks Investment Research raised shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Cantor Fitzgerald decreased their price target on shares of Public Storage from $222.00 to $216.00 and set a “neutral” rating for the company in a research report on Monday, May 22nd. BidaskClub raised shares of Public Storage from a “strong sell” rating to a “sell” rating in a research report on Friday, June 16th. Finally, Barclays PLC upped their price target on shares of Public Storage from $222.00 to $224.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $224.67.

Shares of Public Storage (NYSE:PSA) traded down 0.12% on Thursday, reaching $207.53. The company had a trading volume of 703,615 shares. Public Storage has a 1-year low of $200.65 and a 1-year high of $255.21. The firm has a market capitalization of $36.08 billion, a price-to-earnings ratio of 29.48 and a beta of 0.41. The firm has a 50-day moving average price of $209.44 and a 200 day moving average price of $217.23.

Public Storage (NYSE:PSA) last issued its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $2.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.42 by $0.05. The business had revenue of $645.55 million during the quarter, compared to analyst estimates of $615.23 million. Public Storage had a net margin of 54.13% and a return on equity of 27.74%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.21 earnings per share. Equities research analysts predict that Public Storage will post $7.33 earnings per share for the current year.

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In other Public Storage news, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $207.11, for a total value of $12,426,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 14.42% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hanson McClain Inc. boosted its position in Public Storage by 0.3% in the first quarter. Hanson McClain Inc. now owns 685 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 2 shares during the period. Quadrant Capital Group LLC boosted its position in Public Storage by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 629 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 3 shares during the period. Merriman Wealth Management LLC boosted its position in Public Storage by 0.3% in the first quarter. Merriman Wealth Management LLC now owns 1,915 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 5 shares during the period. Guardian Life Insurance Co. of America boosted its position in Public Storage by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 576 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 5 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its position in Public Storage by 0.4% in the first quarter. Diamond Hill Capital Management Inc. now owns 1,663 shares of the real estate investment trust’s stock valued at $364,000 after buying an additional 7 shares during the period. Institutional investors and hedge funds own 79.54% of the company’s stock.

Public Storage Company Profile

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.

Analyst Recommendations for Public Storage (NYSE:PSA)

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