Posts for Ticker ‘PSA’

Top 10 Pre-Market Analyst Calls (ARIA, ADSK, BJ, CX, ENOC, GLNG, IT, N, PSA, WMT)

These are the top pre-market analyst upgrades and downgrades from Wall Street firms we have seen early this Monday morning:

Ariad Pharma (NASDAQ: ARIA) Started as Outperform at Oppenheimer.
Autodesk (NASDAQ: ADSK) Raised to Buy at BofA Merrill Lynch.
BJ’s Wholesale (NYSE: BJ) Cut to Neutral at JPMorgan.
CEMEX S.A. (NYSE: CX) Raised to Buy at Deutsche Bank.
EnerNOC (NASDAQ: ENOC) Started as Overweight at JPMorgan.
Gartner (NYSE: IT) Raised to Overweight at JPMorgan.
Golar LNG (NASDAQ: GLNG) Cut to Neutral at Goldman Sachs.
NetSuite (NYSE: N) Raised to Outperform at Credit Suisse.
Public Storage (NYSE: PSA) Cut to Market Perform at Wells Fargo.
Wal-Mart Stores (NYSE: WMT) Raised to Buy at Rochdale.

JON C. OGG
August 17, 2009

Posted on: August 17, 2009 – 8:00 am in Analyst Calls, , , , , , , , , ,

Top Analyst Downgrades (COP, EXBD, GET, NSR, PSA, GOLD)

These are the top pre-market analyst downgrades or cautious research calls we have seen from Wall Street this Thursday morning:

Conoco Philips (COP) Started as Sell at Societe Generale.
Corporate Executive Board (EXBD) Cut to Underperform at Baird.
Gaylord Entertainment Co. (GET) Cut to Underperform at FBR.
Neustar (NSR) Cut to Hold at Deutsche Bank.
Public Storage (PSA) Started as Underperform at KBW.
Rangold Resources (GOLD) Cut to Hold at Citigroup.

JON C. OGG

Posted on: July 9, 2009 – 6:40 am in Analyst Calls, , , , , ,

Top 10 Analyst Upgrades & Downgrades (APC, ATML, CBY, CEO, EXR, N, OXY, OZM, PSA, WFC)

These are ten of the top pre-market analyst calls we have seen early this Tuesday morning with more than two hours until the market opens:
Anadarko Petroleum (APC) Cut to Equal Weight at Barclays.
Atmel (ATML) Raised to Outperform at FBR.
Cadbury Schweppes (CBY) Raised to Neutral at JPMorgan.
CNOOC Ltd (CEO) Cut to Neutral at JPMorgan.
Extra Space Storage (EXR) Cut to Underweight at KeyBanc.
Netsuite (N) Cut to Sell at Piper Jaffray.
Occidental Petroleum (OXY) Raised to Outperform at Barclays.
Och-Ziff Capital (OZM) Raised to Outperform at KBW.
Public Storage (PSA) Cut to Underweight at KeyBanc.
Wells Fargo (WFC) Started as Outperform at Oppenheimer.

JON C. OGG

Posted on: May 5, 2009 – 6:27 am in Analyst Calls, , , , , , , , , ,

Top Pre-Market Analyst Upgrades (AWK, BDK, ERII, FRED, LEN, PSA, WMT)

Money_stack_picThese are some of the positive analyst calls and upgrades we are seeing early this Tuesday morning:

  • American Water Works (AWK) Started as Buy at Societe General.
  • Black & Decker (BDK) Raised to Buy at UBS.
  • Energy Recovery (ERII) Started as Buy at Piper Jaffray.
  • Fred’s (FRED) Raised to Outperform at William Blair.
  • Lennar (LEN) Raised to Buy at UBS.
  • Public Storage (PSA) Raised to Buy at Goldman Sachs.
  • Wal-Mart (WMT) Raised to Outperform at William Blair.

Jon C. Ogg
November 25, 2008

Posted on: November 25, 2008 – 7:55 am in Analyst Calls, , , , , , ,

Top Pre-Market Analyst Upgrades (BXP, DWA, DUK, MET, MTB, PRXL, POR, PFG, PSA, UDR)

These are some of the top pre-market analyst calls we are seeing this Friday morning:

  • Boston Properties (BXP) Raised to Outperform at FBR.
  • DreamWorks Animation (DWA) Raised to Buy at Jefferies.
  • Duke Energy (DUK) Raised to Neutral at Goldman Sachs.
  • MetLife (MET) Resumed at Overweight at Morgan Stanley.
  • M&T Bank Corp (MTB) Raised to Neutral at Baird.
  • Parexel (PRXL) Raised to Outperform at William Blair.
  • Portland General (POR) Raised to Buy at Goldman Sachs.
  • Principal Financial (PFG) Raised to Equal-weight at Morgan Stanley.
  • Public Storage (PSA) Raised to Outperform at Wachovia.
  • UDR Inc. (UDR) Raised to Outperform at FBR.

Jon C. Ogg
October 10, 2008

Posted on: October 10, 2008 – 7:02 am in Analyst Calls, , , , , , , , , ,

Storage Trusts Follow Public Storage Down, Despite U-Store-It Rising (PSA, YSI, EXR, SSS)

Public Storage (NYSE: PSA) is seeing some pressure this morning after earnings.  Interestingly enough, its smaller counterpart U-Store-It Trust (NYSE: YSI) rose a sharp 3.5% to $11.99 after its earnings.

As u-Store-It was already closer to lows, had seen more selling, is only a $693 million stock market cap, and is generally far less representative of the entire extra-storage space property sector… the sector is following the lead of Public Storage.

Public Storage posted funds from operations excluding items and excluding currency of $1.16, while estimates were $1.24.  The company attributed a shortfall compared to estimates as being due to higher than expected domestic expenses.  The company also showed a decrease in per square foot occupancy from 90.1% in Q1 2007 to 89.5%, although that was offset by a 3.8% increase in rent to $13.82 per annual square foot.

After looking over the books, the company is actually in great shape financially and it should have more than enough to keep repurchasing shares and to keep paying out its dividends.  The bad news is that it is no longer believed to be cheap on an underlying real estate land-bank basis.

With a $14.9 Billion market cap after a 5% drop today to $87.14, this one looks fully valued based on the current valuations and based on the current economic climate.  Its 52-week trading range is $65.66 to $98.01. Five years ago, this was trading at about $36.00 per share.

This is also weighing on a few related companies today. Extra Space Storage Inc. (NYSE: EXR) is seeing shares trade down over 1% at $16.74 and Sovran Self Storage Inc. (NYSE: SSS) is seeing shares down over 1% at $43.13.

Jon C. Ogg
May 9, 2008

Posted on: May 9, 2008 – 11:17 am in Earnings, REIT, , , ,