Public Storage (NYSE:PSA) shares are expected to touch $256.85 in the short term. This short term price target has been shared by 10 analysts. However, the standard deviation of short term price estimate has been valued at 21.98. The target price could hit $289 on the higher end and $224 on the lower end.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Citigroup, maintains their rating on the shares of Public Storage (NYSE:PSA). Citigroup has a Neutral rating on the shares. As per the latest research report, the brokerage house raises the price target to $260 per share from a prior target of $240. The rating by the firm was issued on May 13, 2016. Company shares have received an average consensus rating of Hold for the current week
On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director 10% owner of Public Storage, Hughes B Wayne Jr, had purchased 22,100 shares in a transaction dated on June 8, 2016. The transaction was executed at $252.42 per share with total amount equaling $5,578,482.
Public Storage (NYSE:PSA) : On Monday heightened volatility was witnessed in Public Storage (NYSE:PSA) which led to swings in the share price. The stock opened for trading at $240.57 and hit $242.99 on the upside , eventually ending the session at $240.35, with a gain of 0.15% or 0.36 points. The heightened volatility saw the trading volume jump to 919,169 shares. The 52-week high of the share price is $277.6 and the company has a market cap of $41,672 million. The 52-week low of the share price is at $182.08 .
Public Storage (the Trust) is a real estate investment trust (REIT). The Trusts principal business activities include Domestic Self-Storage, European Self-Storage and Commercial. The Trust acquires, develops, owns and operates self-storage facilities, which offer storage spaces for lease, on a month-to-month basis, for personal and business use. It has direct and indirect equity interests in self-storage facilities in the United States operating under the Public Storage brand name. The Trust has an around 49% equity interest in Shurgard Self Storage Europe Limited (Shurgard Europe), which owns approximately 192 self-storage facilities (10 million net rentable square feet of space) located in seven countries in Western Europe operated under the Shurgard brand name. The Trust has an around 42% equity interest in PS Business Parks, Inc. (PSB), a publicly held REIT, which owns and operates around 28.6 million net rentable square feet of commercial space.