The stock of Public Storage (NYSE:PSA) is a huge mover today! The stock decreased 2.97% or $6.62 on October 3, hitting $216.56. Public Storage (NYSE:PSA) has declined 15.04% since March 1, 2016 and is downtrending. It has underperformed by 27.26% the S&P500.
The move comes after 7 months negative chart setup for the $37.61 billion company. It was reported on Oct, 4 by Barchart.com. We have $201.40 PT which if reached, will make NYSE:PSA worth $2.63 billion less.
Analysts await Public Storage (NYSE:PSA) to report earnings on October, 26. They expect $2.51 earnings per share, up 10.57% or $0.24 from last year’s $2.27 per share. PSA’s profit will be $435.91M for 21.57 P/E if the $2.51 EPS becomes a reality. After $2.34 actual earnings per share reported by Public Storage for the previous quarter, Wall Street now forecasts 7.26% EPS growth.
Public Storage (NYSE:PSA) Ratings Coverage
Out of 16 analysts covering Public Storage (NYSE:PSA), 3 rate it a “Buy”, 3 “Sell”, while 10 “Hold”. This means 19% are positive. Public Storage has been the topic of 36 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was downgraded by JP Morgan to “Neutral” on Thursday, December 17. Bank of America downgraded the stock to “Neutral” rating in Thursday, August 11 report. The firm has “Buy” rating given on Monday, August 24 by Zacks. The rating was initiated by Robert W. Baird on Thursday, July 23 with “Neutral”. On Wednesday, January 27 the stock rating was maintained by Argus Research with “Buy”. The rating was maintained by RBC Capital Markets with “Sector Perform” on Wednesday, May 11. The firm has “Buy” rating given on Wednesday, September 2 by Zacks. Raymond James downgraded the shares of PSA in a report on Thursday, January 7 to “Mkt Perform” rating. Argus Research maintained the stock with “Buy” rating in Wednesday, September 9 report. The rating was upgraded by KeyBanc Capital Markets to “Sector Weight” on Monday, December 7.
According to Zacks Investment Research, “Public Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters is located in Glendale, California. Public Storage is America’s premier storage company. Over the past three decades, the company has shown consistent growth in the number of properties owned, as well as in the range of services provided.”
Insitutional Activity: The institutional sentiment increased to 1.5 in 2016 Q2. Its up 0.90, from 0.6 in 2016Q1. The ratio increased, as 1 funds sold all Public Storage shares owned while 1 reduced positions. 0 funds bought stakes while 3 increased positions. They now own 340,461 shares or 0.63% more from 338,327 shares in 2016Q1.
Massmutual Tru Fsb Adv accumulated 0% or 5,800 shares. Mycio Wealth Prtn Limited Company last reported 38 shares in the company. The Vermont-based Trust Company Of Vermont has invested 0% in Public Storage (NYSE:PSA). Roosevelt Grp Inc has 0.23% invested in the company for 116,556 shares. Geneva, a Illinois-based fund reported 17,833 shares. Spirit Of America Mngmt Ny, a New York-based fund reported 32,490 shares. Roundview Capital Ltd Company last reported 0.29% of its portfolio in the stock. The Maryland-based Fulton Breakefield Broenniman Lc has invested 0.18% in Public Storage (NYSE:PSA). Van Hulzen Asset Ltd accumulated 72,123 shares or 1.03% of the stock. Kcm Advsrs Ltd Company has invested 0.05% of its portfolio in Public Storage (NYSE:PSA).
More news for Public Storage (NYSE:PSA) were recently published by: Businesswire.com, which released: “Public Storage to Release Third Quarter 2016 Earnings Results and Host …” on October 03, 2016. Forbes.com‘s article titled: “Ex-Dividend Reminder: Renasant, WesBanco and Public Storage” and published on September 08, 2016 is yet another important article.
PSA Company Profile
Public Storage, incorporated on March 13, 2007, 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. The Firm operates through Self-Storage Operations, Ancillary Operations, Investment in PS Business Parks, Inc. (PSB) and Investment in Shurgard Europe divisions. The Firm also has direct and indirect equity interests in approximately 30 million net rentable square feet of commercial space located in over nine states in the United States primarily owned and operated by PSB under the PS Business Parks name. The Firm manages approximately 30 self-storage facilities for third parties, and has equity interests in and manages over 12 additional self-storage facilities.
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