BMO Capital Initiates Coverage on Public Storage (NYSE:PSA). What May be Next?

September 17, 2017 - By test

 BMO Capital Initiates Coverage on Public Storage (NYSE:PSA). What May be Next?

Why Has BMO Capital Given Public Storage (NYSE:PSA) a $193.0 Price Target

New York: Public Storage (NYSE:PSA) coverage was initiated with a key ‘”Sell”‘ rating as well as a $193.0 target price per share at BMO Capital. The target price per share by BMO Capital would indicate downside of -9.88 % from the last stock price.

Public Storage (NYSE:PSA) Ratings Coverage

Among 16 analysts covering Public Storage (NYSE:PSA), 2 have Buy rating, 3 Sell and 11 Hold. Therefore 13% are positive. Public Storage has $275 highest and $193.0 lowest target. $222.04’s average target is 3.68% above currents $214.15 stock price. Public Storage had 51 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned “Overweight” rating on Wednesday, November 11 by Barclays Capital. The stock of Public Storage (NYSE:PSA) earned “Sell” rating by Evercore on Monday, March 21. The stock has “Hold” rating by Jefferies on Wednesday, August 10. On Monday, July 24 the stock rating was maintained by Jefferies with “Hold”. Goldman Sachs downgraded Public Storage (NYSE:PSA) on Monday, January 4 to “Neutral” rating. BMO Capital Markets maintained the stock with “Hold” rating in Thursday, March 23 report. BB&T Capital initiated Public Storage (NYSE:PSA) rating on Wednesday, November 11. BB&T Capital has “Underweight” rating and $217.50 target. The firm earned “Neutral” rating on Thursday, January 5 by Robert W. Baird. Jefferies maintained it with “Hold” rating and $210 target in Friday, August 18 report. The stock of Public Storage (NYSE:PSA) earned “Sector Perform” rating by RBC Capital Markets on Wednesday, May 11.

The stock increased 0.73% or $1.56 on September 15, reaching $214.15. About 1.03 million shares traded or 27.21% up from the average. Public Storage (NYSE:PSA) has declined 14.14% since September 17, 2016 and is downtrending. It has underperformed by 30.84% the S&P500.

Analysts await Public Storage (NYSE:PSA) to report earnings on October, 25. They expect $2.61 EPS, up 3.98 % or $0.10 from last year’s $2.51 per share. PSA’s profit will be $454.11M for 20.51 P/E if the $2.61 EPS becomes a reality. After $2.31 actual EPS reported by Public Storage for the previous quarter, Wall Street now forecasts 12.99 % EPS growth.

Public Storage is a real estate investment trust . The company has market cap of $37.26 billion. 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. It has a 30.54 P/E ratio. The Company’s divisions include Self-Storage Operations, Ancillary Operations, Investment in PS Business Parks, Inc. (PSB) and Investment in Shurgard Europe.

More notable recent Public Storage (NYSE:PSA) news were published by: Businesswire.com which released: “Public Storage Prices Inaugural Public Offering of Senior Notes” on September 13, 2017, also Nasdaq.com with their article: “Public Storage (PSA) Ex-Dividend Date Scheduled for September 12, 2017” published on September 11, 2017, Seekingalpha.com published: “Public Storage Inc: End Of Personal Storage Boom?” on August 30, 2017. More interesting news about Public Storage (NYSE:PSA) were released by: Chicagotribune.com and their article: “3-story self-storage facility proposed in southwest Naperville” published on September 13, 2017 as well as Businesswire.com‘s news article titled: “Public Storage Provides Hurricane Irma and Harvey Updates” with publication date: September 10, 2017.

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