KeyBanc Maintains Public Storage to Underweight with Price Target $205.00

Brokerage firm KeyBanc Maintains its rating on Public Storage(NYSE:PSA). In a research note issued to the investors, the brokerage major Lowers the price-target to $205.00 per share. The shares have been rated Underweight. The rating by KeyBanc was issued on Sep 12, 2016.

In a different note, On Aug 22, 2016, Evercore ISI Group said it Upgrades its rating on Public Storage. The shares have been rated ‘Hold’ by the firm. On Aug 11, 2016, Bank of America said it Downgrades its rating on Public Storage. The shares have been rated ‘Neutral’ by the firm. On Aug 10, 2016, Jefferies said it Maintains its rating on Public Storage. In the research note, the firm Lowers the price-target to $270.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 19, 2016, Barclays said it Maintains its rating on Public Storage. In the research note, the firm Raises the price-target to $253.00 per share. The shares have been rated ‘Equalweight’ by the firm. On Jul 15, 2016, KeyBanc said it Downgrades its rating on Public Storage. The shares have been rated ‘Underweight’ by the firm. FBR Capital said it Initiates Coverage on Public Storage, according to a research note issued on Jun 23, 2016. The shares have been rated ‘Market Perform’ by the firm.

Public Storage (PSA) made into the market gainers list on Tuesdays trading session with the shares advancing 0.36% or 0.77 points. Due to strong positive momentum, the stock ended at $216.84, which is also near the day’s high of $218.1. The stock began the session at $215.98 and the volume stood at 8,50,683 shares. The 52-week high of the shares is $277.6 and the 52 week low is $204.63. The company has a current market capitalization of $37,600 M and it has 17,34,01,390 shares in outstanding.

Public Storage(PSA) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $498.17M. Analysts had an estimated revenue of $607.28M. Earnings per share were $2.40. Analysts had estimated an EPS of $2.40.

Several Insider Transactions has been reported to the SEC. On Jun 10, 2016, B Wayne Jr Hughes (director 10% owner) purchased 22,100 shares at $252.42 per share price.Also, On Mar 17, 2016, Candace N. Krol (CHRO & SVP) sold 3,000 shares at $263.50 per share price.On Mar 4, 2016, David F Doll (SENIOR VICE PRESIDENT) sold 20,000 shares at $252.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Public Storage (the Trust) is a real estate investment trust (REIT). The Trust’s 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.

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