In a report released yesterday, Jonathan Hughes from Raymond James reiterated a Hold rating on Public Storage (PSA). The company’s shares closed last Tuesday at $279.35, close to its 52-week high of $283.07.
According to TipRanks.com, Hughes is a 4-star analyst with an average return of 11.1% and a 64.4% success rate. Hughes covers the Financial sector, focusing on stocks such as Healthpeak Properties, Omega Healthcare, and CareTrust REIT.
Public Storage has an analyst consensus of Moderate Buy, with a price target consensus of $276.80, implying a -1.0% downside from current levels. In a report issued on April 28, BMO Capital also initiated coverage with a Hold rating on the stock with a $285.00 price target.
See today’s analyst top recommended stocks >>
Based on Public Storage’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $767 million and net profit of $433 million. In comparison, last year the company earned revenue of $716 million and had a net profit of $366 million.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PSA in relation to earlier this year. Last month, Avedick Baruyr Poladian, a Director at PSA bought 5,000 shares for a total of $579,800.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Public Storage engages in self-storage services in the United States. The company acquires, develops, owns and operates self-storage facilities, which it provides on a monthly rental basis for business and personal use. It has interest in over 2,500 self-storage facilities located across 38 states.
Read More on PSA: