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

Wall Street Zen downgraded shares of Public Storage (NYSE:PSA) from a hold rating to a sell rating in a report published on Sunday.

Several other equities research analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target for the company. in a research report on Tuesday, January 20th. The Goldman Sachs Group reissued a “buy” rating and set a $330.00 target price on shares of Public Storage in a research note on Friday, February 20th. Barclays increased their target price on Public Storage from $331.00 to $347.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Public Storage in a research report on Monday, March 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $306.53.

Public Storage Price Performance

PSA stock opened at $271.11 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 2.05. Public Storage has a one year low of $256.54 and a one year high of $312.95. The firm has a market capitalization of $47.58 billion, a PE ratio of 30.06, a P/E/G ratio of 5.45 and a beta of 0.99. The firm has a 50-day moving average of $289.42 and a two-hundred day moving average of $283.10.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $12.00 dividend on an annualized basis and a yield of 4.4%. Public Storage’s payout ratio is presently 133.04%.

Institutional Investors Weigh In On Public Storage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Purpose Unlimited Inc. acquired a new stake in shares of Public Storage during the 4th quarter valued at $467,000. Hsbc Holdings PLC increased its stake in shares of Public Storage by 15.4% in the fourth quarter. Hsbc Holdings PLC now owns 611,312 shares of the real estate investment trust’s stock worth $158,757,000 after acquiring an additional 81,388 shares during the last quarter. World Investment Advisors increased its stake in shares of Public Storage by 31.7% in the fourth quarter. World Investment Advisors now owns 3,253 shares of the real estate investment trust’s stock worth $844,000 after acquiring an additional 783 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of Public Storage by 10.8% during the fourth quarter. Corient Private Wealth LLC now owns 67,196 shares of the real estate investment trust’s stock worth $17,440,000 after acquiring an additional 6,554 shares in the last quarter. Finally, Bayban purchased a new stake in shares of Public Storage during the fourth quarter worth $26,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

About Public Storage

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.