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

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

Several other analysts also recently issued reports on the company. Truist Financial decreased their target price on Public Storage from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, November 25th. BNP Paribas Exane decreased their price target on Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. Raymond James Financial cut their price objective on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 18th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “hold” rating to a “buy” rating and set a $325.00 price objective on the stock in a report on Monday, October 13th. Finally, BMO Capital Markets lowered their target price on Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a report on Monday, December 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $316.67.

Public Storage Price Performance

PSA stock opened at $278.18 on Friday. The firm has a 50 day moving average price of $269.29 and a 200-day moving average price of $282.71. The firm has a market capitalization of $48.81 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 5.83 and a beta of 1.01. Public Storage has a 52-week low of $256.54 and a 52-week high of $322.49. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.45 and a current ratio of 0.45.

Public Storage (NYSE:PSA) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $4.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.21 billion. Public Storage had a net margin of 39.53% and a return on equity of 36.09%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.20 earnings per share. Public Storage has set its FY 2025 guidance at 16.700-17.000 EPS. Equities research analysts forecast that Public Storage will post 16.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Public Storage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSA. Clear Creek Financial Management LLC acquired a new position in Public Storage during the 2nd quarter valued at about $342,000. Vanderbilt University lifted its holdings in shares of Public Storage by 103.1% in the third quarter. Vanderbilt University now owns 9,112 shares of the real estate investment trust’s stock valued at $2,632,000 after purchasing an additional 4,626 shares in the last quarter. Carnegie Investment Counsel boosted its position in shares of Public Storage by 23.0% during the third quarter. Carnegie Investment Counsel now owns 112,769 shares of the real estate investment trust’s stock valued at $32,573,000 after buying an additional 21,073 shares during the last quarter. Diversified Trust Co bought a new stake in Public Storage during the second quarter worth $418,000. Finally, Baird Financial Group Inc. raised its position in Public Storage by 24.3% in the 2nd quarter. Baird Financial Group Inc. now owns 25,424 shares of the real estate investment trust’s stock valued at $7,460,000 after buying an additional 4,975 shares during the last quarter. 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.