Public Storage (NYSE:PSA – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.
A number of other brokerages also recently weighed in on PSA. Weiss Ratings downgraded Public Storage from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Evercore set a $308.00 price objective on Public Storage in a research note on Monday, September 21st. Mizuho lifted their price target on Public Storage from $316.00 to $319.00 and gave the company a “neutral” rating in a research report on Wednesday, September 2nd. UBS Group reaffirmed a “neutral” rating on shares of Public Storage in a research note on Tuesday, October 27th. Finally, Wells Fargo & Company set a $311.00 price target on Public Storage in a research note on Tuesday, September 1st. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, Public Storage has an average rating of “Hold” and a consensus price target of $323.68.
Read Our Latest Report on Public Storage
Public Storage Stock Performance
Shares of PSA opened at $324.95 on Friday. The stock has a market cap of $60.71 billion, a P/E ratio of 34.03, a PEG ratio of 4.84 and a beta of 0.89. The company has a 50-day moving average of $298.85 and a two-hundred day moving average of $302.79. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16.
Public Storage (NYSE:PSA – Get Free Report) last issued its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $2.49 by ($0.80). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.34 billion. Public Storage had a net margin of 37.76% and a return on equity of 29.93%. Public Storage’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.31 earnings per share. As a group, research analysts predict that Public Storage will post 16.96 EPS for the current fiscal year.
Insider Buying and Selling at Public Storage
In other Public Storage news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $327.53, for a total value of $463,127.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.10% of the stock is owned by company insiders.
Hedge Funds Weigh In On Public Storage
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Public Storage in the second quarter valued at $5,495,077,000. Legal & General Group Plc bought a new position in Public Storage during the 2nd quarter valued at about $601,650,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Public Storage during the second quarter valued at approximately $558,904,000. Deutsche Bank AG purchased a new stake in Public Storage during the 2nd quarter valued at about $400,776,000. Finally, Bank of America Corp DE acquired a new stake in shares of Public Storage in the second quarter valued at about $333,063,000. Institutional investors own 78.79% of the company’s stock.
About Public Storage
Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.
Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.
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