The stock of Public Storage (NYSE:PSA) hit a new 52-week low and has $196.45 target or 6.00% below today’s $208.99 share price. The 6 months bearish chart indicates high risk for the $36.29B company. The 1-year low was reported on Oct, 5 by Barchart.com. If the $196.45 price target is reached, the company will be worth $2.18B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. Public Storage (NYSE:PSA) has declined 16.98% since March 2, 2016 and is downtrending. It has underperformed by 25.24% the S&P500.
Analysts await Public Storage (NYSE:PSA) to report earnings on October, 26. They expect $2.51 EPS, up 10.57% or $0.24 from last year’s $2.27 per share. PSA’s profit will be $435.85M for 20.82 P/E if the $2.51 EPS becomes a reality. After $2.34 actual EPS 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 firm has “Outperform” rating given on Friday, September 4 by Raymond James. The stock of Public Storage (NYSE:PSA) earned “Buy” rating by Argus Research on Wednesday, January 27. BB&T Capital initiated Public Storage (NYSE:PSA) rating on Wednesday, November 11. BB&T Capital has “Underweight” rating and $217.50 price target. The firm has “Buy” rating given on Monday, August 24 by Zacks. Robert W. Baird upgraded Public Storage (NYSE:PSA) on Thursday, January 7 to “Outperform” rating. Evercore upgraded the stock to “Hold” rating in Monday, August 22 report. RBC Capital Markets maintained it with “Sector Perform” rating and $243 target price in Wednesday, May 11 report. On Friday, July 15 the stock rating was downgraded by KeyBanc Capital Markets to “Underweight”. The firm earned “Equal-Weight” rating on Tuesday, January 26 by Barclays Capital. The rating was downgraded by Raymond James to “Mkt Perform” on Thursday, January 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 improved, 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.
Moreover, Mycio Wealth Partners Lc has 0% invested in Public Storage (NYSE:PSA) for 38 shares. Van Hulzen Asset Ltd Co has 1.03% invested in the company for 72,123 shares. Fulton Breakefield Broenniman Limited Co accumulated 0.18% or 34,330 shares. Spirit Of America Management Ny, a New York-based fund reported 32,490 shares. Kcm Advsrs Limited has 0.05% invested in the company for 28,601 shares. Geneva Advsrs Ltd Company has invested 0.01% of its portfolio in Public Storage (NYSE:PSA). The New Jersey-based Roundview Cap Limited Co has invested 0.29% in Public Storage (NYSE:PSA). Massmutual Trust Fsb Adv accumulated 5,800 shares or 0% of the stock. Roosevelt Gru Incorporated holds 116,556 shares or 0.23% of its portfolio. Tru Commerce Of Vermont last reported 0% of its portfolio in the stock.
More news for Public Storage (NYSE:PSA) were recently published by: Forbes.com, which released: “Ex-Dividend Reminder: Renasant, WesBanco and Public Storage” on September 08, 2016. Gurufocus.com‘s article titled: “Public Storage Will Face More Downside Before Rebounding” and published on September 15, 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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