The stock of Public Storage (NYSE:PSA) is a huge mover today! Public Storage (NYSE:PSA) has declined 17.50% since March 3, 2016 and is downtrending. It has underperformed by 25.85% the S&P500.
The move comes after 9 months positive chart setup for the $36.70 billion company. It was reported on Oct, 6 by Barchart.com. We have $329.69 PT which if reached, will make NYSE:PSA worth $20.55B more.
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 $435.87 million for 21.05 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 on Thursday, December 17 to “Neutral”. As per Friday, September 4, the company rating was upgraded by Raymond James. The company was maintained on Monday, November 16 by Argus Research. The firm has “Underweight” rating given on Friday, July 15 by KeyBanc Capital Markets. The stock of Public Storage (NYSE:PSA) has “Neutral” rating given on Thursday, August 11 by Bank of America. The stock of Public Storage (NYSE:PSA) has “Sell” rating given on Monday, March 21 by Evercore. The firm earned “Sector Weight” rating on Monday, December 7 by KeyBanc Capital Markets. Goldman Sachs downgraded it to “Sell” rating and $244 target price in Monday, April 25 report. The stock of Public Storage (NYSE:PSA) earned “Hold” rating by Jefferies on Wednesday, August 10. The firm earned “Buy” rating on Monday, August 24 by Zacks.
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.
Fulton Breakefield Broenniman reported 34,330 shares or 0.18% of all its holdings. Roundview Lc has 31,690 shares for 0.29% of their US portfolio. Geneva Advsrs Limited Liability, a Illinois-based fund reported 17,833 shares. Massmutual Tru Fsb Adv reported 5,800 shares or 0% of all its holdings. Kcm Investment Advisors Limited Liability Corp has invested 0.05% of its portfolio in Public Storage (NYSE:PSA). Trust Of Vermont last reported 1,000 shares in the company. Moreover, Mycio Wealth Prns Ltd Limited Liability Company has 0% invested in Public Storage (NYSE:PSA) for 38 shares. Van Hulzen Asset Limited Liability holds 72,123 shares or 1.03% of its portfolio. Spirit Of America Management Ny has invested 0.12% of its portfolio in Public Storage (NYSE:PSA). Roosevelt Investment Inc has 0.23% invested in the company for 116,556 shares.
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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