Analyst Rating Update on Public Storage (PSA)

Public Storage (NYSE:PSA) : 16 analysts are covering Public Storage (NYSE:PSA) and their average rating on the stock is 3, which is read as a Hold. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 2 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 12 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Public Storage (NYSE:PSA) has been rated by 11 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $289 and the lowest price target forecast is $224. The average forecast of all the analysts is $256.23 and the expected standard deviation is $20.95.

Company shares have received an average consensus rating of Hold for the current week Also, FBR Capital initiates coverage on Public Storage (NYSE:PSA). In the latest research report, FBR Capital announces the target price to $250 per share. According to the latest information available, the shares are now rated Market Perform by the analysts at the agency. The rating by the firm was issued on June 23, 2016.

Public Storage (NYSE:PSA): stock turned positive on Tuesday. Though the stock opened at $251, the bulls momentum made the stock top out at $254.19 level for the day. The stock recorded a low of $250.15 and closed the trading day at $253.14, in the green by 1.17%. The total traded volume for the day was 970,868. The stock had closed at $250.21 in the previous days trading.

In an insider trading activity, Hughes B Wayne Jr, director 10% owner of Public Storage, had purchased 22,100 shares on June 8, 2016. The total value of the transaction was $5,578,482. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.

Public Storage (the Trust) is a real estate investment trust (REIT). The Trusts principal business activities include Domestic Self-Storage, European Self-Storage and Commercial. The Trust acquires, develops, owns and operates self-storage facilities, which offer storage spaces for lease, on a month-to-month basis, for personal and business use. It has direct and indirect equity interests in self-storage facilities in the United States operating under the Public Storage brand name. The Trust has an around 49% equity interest in Shurgard Self Storage Europe Limited (Shurgard Europe), which owns approximately 192 self-storage facilities (10 million net rentable square feet of space) located in seven countries in Western Europe operated under the Shurgard brand name. The Trust has an around 42% equity interest in PS Business Parks, Inc. (PSB), a publicly held REIT, which owns and operates around 28.6 million net rentable square feet of commercial space.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.