Public Storage (NYSE:PSA) Rating Increased to Outperform at BMO Capital Markets

Public Storage (NYSE:PSAGet Rating) was upgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a report released on Thursday, The Fly reports.

Several other equities analysts also recently issued reports on PSA. JPMorgan Chase & Co. upped their price objective on shares of Public Storage from $385.00 to $434.00 and gave the company an “overweight” rating in a report on Monday, April 4th. StockNews.com upgraded Public Storage from a “hold” rating to a “buy” rating in a research report on Friday, May 6th. Morgan Stanley upped their price objective on Public Storage from $333.00 to $357.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 1st. The Goldman Sachs Group upped their price objective on Public Storage from $398.00 to $440.00 and gave the stock a “neutral” rating in a research report on Thursday, April 14th. Finally, Zacks Investment Research lowered Public Storage from a “buy” rating to a “hold” rating and set a $335.00 target price on the stock. in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Public Storage has a consensus rating of “Buy” and a consensus target price of $361.08.

Shares of Public Storage stock opened at $306.90 on Thursday. The company has a market capitalization of $53.85 billion, a PE ratio of 29.83, a P/E/G ratio of 2.85 and a beta of 0.28. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.07 and a current ratio of 2.07. The company has a 50-day simple moving average of $373.74 and a two-hundred day simple moving average of $359.37. Public Storage has a one year low of $270.43 and a one year high of $421.76.

Public Storage (NYSE:PSAGet Rating) last announced its earnings results on Tuesday, May 3rd. The real estate investment trust reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.96). The firm had revenue of $749.27 million during the quarter, compared to the consensus estimate of $985.58 million. Public Storage had a return on equity of 38.01% and a net margin of 54.79%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.82 earnings per share. On average, equities analysts predict that Public Storage will post 15.5 earnings per share for the current fiscal year.

In other Public Storage news, Director Rebecca L. Owen sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $358.25, for a total value of $1,791,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Signaturefd LLC boosted its stake in shares of Public Storage by 1.7% in the 1st quarter. Signaturefd LLC now owns 1,719 shares of the real estate investment trust’s stock valued at $671,000 after buying an additional 28 shares during the period. AdvisorNet Financial Inc boosted its stake in shares of Public Storage by 2.7% in the 4th quarter. AdvisorNet Financial Inc now owns 1,113 shares of the real estate investment trust’s stock valued at $417,000 after buying an additional 29 shares during the period. Glassman Wealth Services boosted its stake in shares of Public Storage by 16.4% in the 4th quarter. Glassman Wealth Services now owns 206 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 29 shares during the period. CX Institutional boosted its stake in shares of Public Storage by 7.8% in the 3rd quarter. CX Institutional now owns 426 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 31 shares during the period. Finally, Jacobi Capital Management LLC raised its position in shares of Public Storage by 2.2% during the 1st quarter. Jacobi Capital Management LLC now owns 1,423 shares of the real estate investment trust’s stock worth $555,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 78.54% of the company’s stock.

About Public Storage (Get Rating)

Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

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