Public Storage (NYSE:PSA) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Public Storage (PSA) was downgraded by Wall Street Zen from a "hold" to a "sell" rating in a research note published Sunday.
• Despite the downgrade, analysts remain mixed overall: MarketBeat shows a consensus rating of "Hold" with a consensus price target of $306.53 (2 Strong Buy, 5 Buy, 12 Hold).
• The stock opened at $265.97 (market cap ~$46.7B), trades below its 50‑day moving average of $290.29, has a P/E of 29.49 and a 12‑month range of $256.54–$312.95, with ~78.8% institutional ownership.

Public Storage (NYSE:PSA - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Sunday.

PSA has been the topic of several other reports. Morgan Stanley started coverage on Public Storage in a research report on Friday, December 5th. They set an "equal weight" rating and a $290.00 price target on the stock. The Goldman Sachs Group reiterated a "buy" rating and issued a $330.00 price objective on shares of Public Storage in a research report on Friday, February 20th. William Blair set a $305.00 price objective on Public Storage in a research note on Monday, March 16th. Evercore set a $302.00 target price on shares of Public Storage in a report on Tuesday, February 17th. Finally, Wolfe Research lowered shares of Public Storage from an "outperform" rating to a "peer perform" rating in a report on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Public Storage presently has a consensus rating of "Hold" and a consensus price target of $306.53.

Public Storage Stock Down 0.8%

Shares of NYSE:PSA opened at $265.97 on Friday. The stock has a market capitalization of $46.68 billion, a P/E ratio of 29.49, a price-to-earnings-growth ratio of 5.47 and a beta of 0.99. The stock's 50-day moving average price is $290.29 and its 200-day moving average price is $283.50. 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 12-month low of $256.54 and a 12-month high of $312.95.

Hedge Funds Weigh In On Public Storage

Hedge funds have recently made changes to their positions in the business. CoreCap Advisors LLC increased its position in Public Storage by 7.0% during the 3rd quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust's stock valued at $164,000 after purchasing an additional 37 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Public Storage by 1.7% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust's stock worth $575,000 after purchasing an additional 37 shares in the last quarter. Raiffeisen Bank International AG lifted its position in shares of Public Storage by 35.2% in the 4th quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 37 shares during the period. Cape ANN Savings Bank lifted its position in shares of Public Storage by 1.4% in the 3rd quarter. Cape ANN Savings Bank now owns 2,793 shares of the real estate investment trust's stock worth $807,000 after purchasing an additional 38 shares during the period. Finally, Doliver Advisors LP boosted its stake in shares of Public Storage by 1.0% during the 4th quarter. Doliver Advisors LP now owns 4,129 shares of the real estate investment trust's stock valued at $1,071,000 after purchasing an additional 39 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

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.

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