|Over a week ago|
Public Storage price target lowered to $175 from $205 at BMO Capital » 09:3505/0105/01/20
BMO Capital analyst R.…
BMO Capital analyst R. Jeremy Metz lowered the firm's price target on Public Storage to $175 from $205 and keeps an Underperform rating on the shares. The analyst maintains that the market was putting too much emphasis on the company's defensive qualities, and not enough on the "inevitable cash flow reset." Metz adds that the company's COVID-19 updates underscore "turbulent waters ahead", anticipating "significant" declines in move-in volumes, lower rates, and higher discounts.
Public Storage reports Q1 core FFO $2.58, consensus $2.58 » 16:0104/3004/30/20
Reports Q1 revenue…
Reports Q1 revenue $609.54M, consensus $712.01M.
|Over a month ago|
Fly Intel: Top five analyst downgrades » 09:5504/2804/28/20
ISRG, SQ, FND, PSA, ROKU
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intuitive Surgical (ISRG) downgraded to Neutral from Overweight at Piper Sandler with analyst Adam Maeder stating he believes a recovery of the capital equipment spending environment will likely take longer than previously expected. 2. Square (SQ) downgraded to Sell from Neutral at Compass Point with analyst Michael Del Grosso expecting "continued material headwinds" to Square's total payment volume and revenue given its "significant exposure" to small businesses. 3. Floor & Decor (FND) downgraded to Outperform from Strong Buy at Raymond James with analyst Matthew McClintock citing the current economic reality and near-term challenges. 4. Public Storage (PSA) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Ronald Kamdem saying job growth is the best indicator of storage demand and the firm's economists expect a record-high unemployment rate. 5. Roku (ROKU) downgraded to Neutral from Buy at Guggenheim with analyst Michael Morris stating that with investor sentiment on Roku having strengthened in recent weeks, he sees enthusiasm about the "stay-at-home" environment being priced into the stock. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Morgan Stanley downgrades Public Storage to Underweight amid record job losses » 08:3104/2804/28/20
PSA, EXR, NSA
As previously reported,…
As previously reported, Morgan Stanley analyst Ronald Kamdem downgraded Public Storage (PSA) to Underweight from Equal Weight with a price target of $159, up from $148. Job growth is the best indicator of storage demand, contends the analyst, who notes that the firm's economists expect a record-high unemployment rate. Given this backdrop, he forecasts "unprecedented" same-store revenue growth declines of 9.8% in Q2 and 3.6% in Q4 for storage REITs he covers, Kamdem noted. He also lowered his price target for Extra Space Storage (EXR) to $68 from $94 and cut his price target for National Storage (NSA) to $24 from $32.
Public Storage downgraded to Underweight from Equal Weight at Morgan Stanley » 05:3604/2804/28/20
Morgan Stanley analyst…
Morgan Stanley analyst Ronald Kamdem downgraded Public Storage to Underweight from Equal Weight with a $159 price target.
Apple, Netflix among BofA's Top 10 U.S. ideas for Q2 » 08:5204/0104/01/20
AAPL, AEE, FIS, HON, LOW, NFLX, NEM, PG, PSA, TRI
Analysts at BofA…
Analysts at BofA Securities released their Top 10 short-term stock recommendations for the second quarter with a focus exclusively on long opportunities given the recent market rout. The Buy recommendations for Q2 that made the list are Ameren (AEE), Apple (AAPL), Fidelity National (FIS), Honeywell (HON), Lowe's (LOW), Netflix (NFLX), Newmont (NEM), Procter & Gamble (PG), Public Storage (PSA) and Thomson Reuters (TRI).
Public Storage resumed with an Equal Weight at Morgan Stanley » 07:0603/2603/26/20
Morgan Stanley analyst…
Morgan Stanley analyst Ronald Kamdem resumed coverage of Public Storage with an Equal Weight rating and $148 price target. While the REIT has one of the strongest balance sheet in its group, a deep recession is not yet being priced in and he would recommend waiting for a better entry point, Kamdem tells investors.
Public Storage upgraded to Buy with $267 price target at BofA » 06:1103/2403/24/20
BofA analyst Jeffrey…
BofA analyst Jeffrey Spector upgraded Public Storage to Buy from Neutral with a price target of $267, up from $254. The analyst cites the company's balance sheet strength and its relative cash flow stability during a recession versus other real estate investment trust sectors for the upgrade. In the current volatile environment, Public Storage continues to outperform the broader market and this should continue, Spector tells investors in a research note.
Public Storage upgraded to Buy from Neutral at BofA » 06:0303/2403/24/20
BofA analyst Jeffrey…
BofA analyst Jeffrey Spector upgraded Public Storage to Buy from Neutral.
|Over a quarter ago|
Public Storage reports Q4 core FFO $2.84, consensus $2.86 » 16:0102/2502/25/20
Reports Q4 revenue…
Reports Q4 revenue $717.5M, consensus $721.24M.