Public Storage (NYSE:PSA) Stock Rating Lowered by Wall Street Zen

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

PSA has been the topic of a number of other reports. William Blair set a $305.00 price target on shares of Public Storage in a research note on Monday, March 16th. Deutsche Bank Aktiengesellschaft lowered shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price objective for the company. in a research note on Tuesday, January 20th. Scotiabank increased their target price on Public Storage from $319.00 to $321.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 23rd. Wells Fargo & Company downgraded Public Storage from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $330.00 to $295.00 in a research report on Thursday, February 5th. Finally, Mizuho cut their price target on Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, December 5th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of “Hold” and an average price target of $306.53.

Public Storage Trading Down 0.3%

Shares of Public Storage stock opened at $265.08 on Friday. The stock has a market capitalization of $46.52 billion, a P/E ratio of 29.39, a P/E/G ratio of 5.47 and a beta of 0.99. Public Storage has a 52-week low of $256.54 and a 52-week high of $312.95. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75. The stock’s 50-day simple moving average is $289.70 and its 200 day simple moving average is $283.25.

Institutional Trading of Public Storage

A number of hedge funds and other institutional investors have recently bought and sold shares of PSA. Norges Bank purchased a new stake in shares of Public Storage in the fourth quarter worth $1,163,751,000. Capital International Investors boosted its stake in Public Storage by 821.4% during the fourth quarter. Capital International Investors now owns 4,134,996 shares of the real estate investment trust’s stock valued at $1,073,032,000 after buying an additional 3,686,211 shares during the period. Vanguard Group Inc. grew its position in Public Storage by 9.9% during 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 buying an additional 2,274,397 shares in the last quarter. First Trust Advisors LP grew its position in Public Storage by 287.7% during the fourth quarter. First Trust Advisors LP now owns 721,588 shares of the real estate investment trust’s stock worth $187,252,000 after buying an additional 535,465 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Public Storage by 498.7% in the 2nd quarter. AQR Capital Management LLC now owns 578,491 shares of the real estate investment trust’s stock worth $166,970,000 after acquiring an additional 481,872 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

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.