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Jefferies Stick to Their Hold Rating for Public Storage

Published 08/19/2020, 05:11 AM
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Jefferies (NYSE:JEF) analyst Jonathan Petersen maintained a Hold rating on Public Storage (NYSE:PSA) on Monday, setting a price target of $185, which is approximately 7.93% below the present share price of $200.94.

Petersen expects Public Storage to post earnings per share (EPS) of $1.80 for the third quarter of 2020.

The current consensus among 9 TipRanks analysts is for a Hold rating of shares in Public Storage, with an average price target of $196.43.
The analysts price targets range from a high of $220 to a low of $175.

In its latest earnings report, released on 03/31/2020, the company reported a quarterly revenue of $716.08 million and a net profit of $340.25 million. The company's market cap is $35.12 billion.

According to TipRanks.com, Jefferies analyst Jonathan Petersen is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 9.2% and a 72.59% success rate.

Public Storage operates as a real estate investment trust. The firm engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, Investment in PS Business Parks (NYSE:PSB) and Investment in Shurgard. The Self-storage Operations segment reflects the rental operations from all self-storage facilities. The Ancillary Operations segment deals with the sale of merchandise and reinsurance of policies against losses to goods stored by self-storage tenants, activities which are incidental to the primary self-storage rental activities. The Investment in PS Business Parks segment includes commercial properties, primarily multi-tenant flex, office, and industrial parks. The Investment in Shurgard segment owns self-storage facilities located in seven countries in Western Europe operated under the Shurgard brand name. The company was founded by Bradley Wayne Hughes, Sr. and Kenneth Q. Volk, Jr. in 1972 and is headquartered in Glendale, CA.

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