Bank of America Merrill Lynch Analysts Upgrade Public Storage (PSA) Shares to "Buy"
Friday, June 24, 2021 1:40 PM

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Equities research analysts at Bank of America Merrill Lynch upgraded shares of Public Storage (NYSE: PSA) from a "neutral" rating to a "buy" rating in a research note to investors on Friday. The analysts currently have a $117.00 price target on the stock, up from $115.00.

Separately, analysts at Raymond James (NYSE: RJF) upgraded shares of Public Storage from a "market perform" rating to an "outperform" rating in a research note to investors on Monday, May 9th. Also, analysts at Stifel Nicolaus downgraded shares of Public Storage from a "buy" rating to a "hold" rating in a research note to investors on Friday, May 6th.

Shares of Public Storage traded up 2.01% during mid-day trading on Monday, hitting $110.96. Public Storage has a 52 week low of $85.04 and a 52 week high of $120.00. The stock's 50-day moving average is $114.8 and its 200-day moving average is $109.3. The company has a market cap of $18.933 billion and a price-to-earnings ratio of 36.10.

Public Storage last announced its quarterly results on Thursday, May 5th. The company reported $1.48 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.33 EPS by $0.15. During the same quarter in the prior year, the company posted $1.15 earnings per share. The company’s quarterly revenue was up 3.40% on a year-over-year basis. On average, analysts predict that Public Storage will post $1.47 EPS next quarter.

Public Storage (the Trust) is a real estate investment trust (REIT). The Trust’s principal business activities include the acquisition, development, 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. The Trust is an owner and operator of self-storage facilities in the United States. It operates in three segments: Domestic Self-Storage, Europe Self-Storage and Commercial.

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