Public Storage (NYSE:PSA) Cut to Sell at Wall Street Zen

Public Storage (NYSE:PSA) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Other equities research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft lowered Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target on the stock. in a research report on Tuesday, January 20th. JPMorgan Chase & Co. lowered their price objective on Public Storage from $295.00 to $291.00 and set a “neutral” rating for the company in a research report on Monday, March 23rd. UBS Group dropped their target price on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Truist Financial upped their target price on shares of Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Finally, BNP Paribas Exane decreased their price target on shares of Public Storage from $329.00 to $315.00 in a research note on Tuesday, December 23rd. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $306.53.

Public Storage Stock Down 0.8%

PSA stock opened at $265.97 on Friday. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $312.95. The company has a market capitalization of $46.68 billion, a price-to-earnings ratio of 29.49, a price-to-earnings-growth ratio of 5.47 and a beta of 0.99. The business’s 50 day moving average price is $290.29 and its two-hundred day moving average price is $283.50. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75.

Institutional Investors Weigh In On Public Storage

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Public Storage by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 25,343,098 shares of the real estate investment trust’s stock worth $6,576,534,000 after acquiring an additional 2,274,397 shares during the last quarter. State Street Corp increased its holdings in shares of Public Storage by 1.2% during the second quarter. State Street Corp now owns 10,613,807 shares of the real estate investment trust’s stock valued at $3,114,303,000 after acquiring an additional 126,113 shares in the last quarter. Norges Bank purchased a new position in shares of Public Storage in the 4th quarter worth about $1,163,751,000. Capital International Investors raised its position in shares of Public Storage by 821.4% in the 4th quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock worth $1,073,032,000 after purchasing an additional 3,686,211 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Public Storage by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 4,089,143 shares of the real estate investment trust’s stock worth $1,056,976,000 after purchasing an additional 66,445 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Company Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.