Public Storage Price Target Increased to $144.00 by Analysts at RBC Capital (PSA)
RBC Capital increased their price target on shares of Public Storage (NYSE: PSA) from $140.00 to $144.00 in a research note issued on Thursday. The firm currently has an “underperform” rating on the stock.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital raised their price target on shares of Public Storage from $165.00 to $166.00 in a research note to investors on Friday, March 15th. They now have an “overweight” rating on the stock. Separately, analysts at JPMorgan Chase raised their price target on shares of Public Storage to $164.00 in a research note to investors on Tuesday, March 5th. Finally, analysts at ISI Group reiterated a “neutral” rating on shares of Public Storage in a research note to investors on Wednesday, February 27th. They now have a $148.00 price target on the stock.
Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $151.00.
Public Storage (NYSE: PSA) traded down 0.21% on Thursday, hitting $150.77. Public Storage has a 52-week low of $129.77 and a 52-week high of $157.95. The stock’s 50-day moving average is currently $152.4. The company has a market cap of $25.891 billion and a price-to-earnings ratio of 38.69.
Public Storage (NYSE: PSA) last announced its earnings results on Friday, February 22nd. The company reported $1.86 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.78 by $0.08. The company had revenue of $405.05 million for the quarter, compared to the consensus estimate of $459.25 million. During the same quarter in the previous year, the company posted $1.50 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts predict that Public Storage will post $7.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, March 28th. Shareholders of record on Wednesday, March 13th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Monday, March 11th. This is a positive change from Public Storage’s previous quarterly dividend of $1.10.
Public Storage (NYSE: PSA) is a real estate investment trust (REIT). The Trust’s principal business activities include the acquisition, development, 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, and it also has interests in commercial facilities.
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