Public Storage (NYSE:PSA)‘s stock had its “hold” rating reissued by SunTrust Banks, Inc. in a research note issued on Friday. They currently have a $200.00 price objective on the real estate investment trust’s stock. SunTrust Banks, Inc.’s price target would indicate a potential downside of 3.33% from the company’s current price.

Other analysts have also issued reports about the stock. Argus reduced their price objective on shares of Public Storage from $260.00 to $250.00 and set a “buy” rating on the stock in a research report on Tuesday, August 1st. Barclays PLC reduced their price objective on shares of Public Storage from $216.00 to $209.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. Jefferies Group LLC set a $210.00 price objective on shares of Public Storage and gave the stock a “hold” rating in a research report on Thursday, August 17th. Zacks Investment Research raised shares of Public Storage from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Finally, FBR & Co set a $220.00 price objective on shares of Public Storage and gave the stock a “hold” rating in a research report on Thursday. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $213.08.

Shares of Public Storage (PSA) traded up 1.32% on Friday, reaching $206.90. The company had a trading volume of 1,041,351 shares. The firm has a market capitalization of $36.00 billion, a price-to-earnings ratio of 29.51 and a beta of 0.44. Public Storage has a 52 week low of $192.15 and a 52 week high of $232.21. The stock’s 50 day moving average is $213.49 and its 200 day moving average is $210.75.

Public Storage (NYSE:PSA) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.59 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.54 by ($0.95). Public Storage had a return on equity of 27.78% and a net margin of 52.48%. The firm had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $626.27 million. During the same period last year, the company earned $2.40 earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts anticipate that Public Storage will post $7.17 EPS for the current year.

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In other Public Storage news, Director Ronald P. Spogli acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were bought at an average cost of $200.59 per share, with a total value of $401,180.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 14.42% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Diamond Hill Capital Management Inc. increased its holdings in Public Storage by 0.3% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,668 shares of the real estate investment trust’s stock valued at $348,000 after buying an additional 5 shares during the period. Merriman Wealth Management LLC increased its holdings in Public Storage by 0.3% during the second quarter. Merriman Wealth Management LLC now owns 1,920 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 5 shares during the period. Concorde Asset Management LLC increased its holdings in Public Storage by 0.3% during the second quarter. Concorde Asset Management LLC now owns 2,511 shares of the real estate investment trust’s stock valued at $523,000 after buying an additional 8 shares during the period. First Hawaiian Bank increased its holdings in Public Storage by 0.5% during the second quarter. First Hawaiian Bank now owns 1,765 shares of the real estate investment trust’s stock valued at $369,000 after buying an additional 9 shares during the period. Finally, Forward Management LLC increased its holdings in Public Storage by 0.7% during the second quarter. Forward Management LLC now owns 1,238 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 9 shares during the period. 80.08% of the stock is currently owned by institutional investors.

About Public Storage

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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