Public Storage Receives a Hold from Barclays

By Austin Angelo

Barclays analyst Ross L Smotrich reiterated a Hold rating on Public Storage (NYSE: PSA) yesterday and set a price target of $230. The company’s shares opened today at $211.99, close to its 52-week low of $200.65.

According to TipRanks.com, Smotrich is a 5-star analyst with an average return of 8.8% and a 66.2% success rate. Smotrich covers the Financial sector, focusing on stocks such as Pennsylvania Real Estate Investment, Newcastle Investment Corp., and General Growth Properties.

Currently, the analyst consensus on Public Storage is Hold and the average price target is $220.75, representing a 4.1% upside.

In a report issued on October 27, FBR Capital also reiterated a Hold rating on the stock with a $225 price target.

Based on Public Storage’s latest earnings report from March 31, the company posted quarterly revenue of $615.7M and quarterly net profit of $315.9M. In comparison, last year the company earned revenue of $631.8M and had a net profit of $339.6M.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2016, John Reyes, the SENIOR VICE PRESIDENT of PSA sold 30,000 shares for a total of $6,462,000.

Public Storage engages in the provision of storage units for personal, business, and vehicle needs. It operates through the following segments: Domestic Self-Storage, European Self-Storage, and Commercial. The Domestic Self-Storage segment acquires, develops, owns, and operates self-storage facilities which offers storage space for personal and business use. The European Self-Storage segment operates through its subsidiary, Shurgard Europe, which owns self-storage facilities in the Western Europe. The Commercial segment owns and operates rentable commercial spaces. The company was founded by Bradley Wayne Hughes, Sr. and Kenneth Q. Volk, Jr. in 1972 and is headquartered in Glendale, CA.