Public Storage (PSA) Given Consensus Recommendation of “Hold” by Brokerages
Public Storage (NYSE:PSA) has received an average rating of “Hold” from the fifteen analysts that are presently covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $208.92.
A number of research firms have recently issued reports on PSA. BMO Capital Markets set a $193.00 target price on shares of Public Storage and gave the company a “sell” rating in a research note on Thursday, October 26th. Jefferies Group set a $212.00 price target on shares of Public Storage and gave the company a “hold” rating in a report on Tuesday, November 28th. FBR & Co set a $220.00 price target on shares of Public Storage and gave the company a “hold” rating in a report on Thursday, October 26th. Morgan Stanley lowered shares of Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price target for the company. in a report on Wednesday, December 13th. Finally, SunTrust Banks reissued a “hold” rating and issued a $200.00 price target on shares of Public Storage in a report on Friday, October 27th.
In other Public Storage news, Director Gary E. Pruitt sold 5,000 shares of Public Storage stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the completion of the sale, the director now owns 8,350 shares of the company’s stock, valued at approximately $1,770,951.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Reyes sold 60,000 shares of Public Storage stock in a transaction on Friday, December 1st. The stock was sold at an average price of $212.24, for a total transaction of $12,734,400.00. The disclosure for this sale can be found here. Company insiders own 14.42% of the company’s stock.
Public Storage (NYSE:PSA) traded down $0.01 during trading hours on Friday, hitting $193.59. 1,010,573 shares of the stock were exchanged, compared to its average volume of 918,326. Public Storage has a 52 week low of $190.15 and a 52 week high of $232.21. The company has a market capitalization of $33,509.85, a PE ratio of 28.29, a P/E/G ratio of 3.78 and a beta of 0.44.
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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.
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