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

Wall Street Zen lowered shares of Public Storage (NYSE:PSA) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

PSA has been the topic of several other reports. Barclays lifted their target price on shares of Public Storage from $350.00 to $351.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 10th. Royal Bank Of Canada increased their price target on shares of Public Storage from $318.00 to $323.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 28th. Wells Fargo & Company set a $311.00 price target on shares of Public Storage in a report on Tuesday, September 1st. Raymond James Financial began coverage on shares of Public Storage in a research report on Thursday, July 16th. They issued a “market perform” rating on the stock. Finally, Scotiabank lowered their price objective on shares of Public Storage from $346.00 to $343.00 and set a “sector outperform” rating for the company in a research note on Wednesday, September 2nd. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $323.68.

Public Storage Stock Up 2.5%

PSA opened at $333.02 on Friday. 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 0.66 and a debt-to-equity ratio of 1.16. The business’s 50-day moving average price is $299.06 and its 200-day moving average price is $303.06. The company has a market cap of $58.49 billion, a P/E ratio of 18.25, a P/E/G ratio of 4.62 and a beta of 0.94.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 29.93% and a net margin of 37.76%. Public Storage’s revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.31 earnings per share. On average, equities analysts expect that Public Storage will post 16.96 EPS for the current year.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 11.10% of the company’s stock.

Institutional Trading of Public Storage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC increased its position in Public Storage by 89.6% during the second quarter. Bruce G. Allen Investments LLC now owns 91 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 43 shares during the last quarter. Continuum Advisory LLC bought a new position in Public Storage in the second quarter valued at about $29,000. Meeder Asset Management Inc. bought a new position in Public Storage in the second quarter valued at about $36,000. William Mack & Associates Inc. purchased a new position in Public Storage in the third quarter worth about $35,000. Finally, Westside Investment Management Inc. purchased a new position in Public Storage in the third quarter worth about $35,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Company Profile

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.