Public Storage (NYSE:PSA) Stock Rating Lowered by Bank of America

Public Storage (NYSE:PSA) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report released on Thursday, Marketbeat.com reports. They presently have a $310.00 price objective on the real estate investment trust’s stock. Bank of America‘s target price would suggest a potential upside of 8.00% from the stock’s previous close.

Several other research analysts also recently commented on PSA. UBS Group decreased their target price on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Royal Bank Of Canada cut their price target on shares of Public Storage from $309.00 to $307.00 and set a “sector perform” rating on the stock in a report on Friday, October 31st. Evercore decreased their price objective on shares of Public Storage from $309.00 to $305.00 in a research report on Monday, January 12th. Raymond James Financial dropped their target price on shares of Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 18th. Finally, Wolfe Research cut Public Storage from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $306.63.

Public Storage Trading Up 1.5%

Shares of PSA stock opened at $287.05 on Thursday. The business has a 50-day moving average of $273.30 and a 200 day moving average of $281.88. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.45 and a quick ratio of 0.45. Public Storage has a 1-year low of $256.54 and a 1-year high of $322.49. The stock has a market capitalization of $50.37 billion, a PE ratio of 29.81, a P/E/G ratio of 7.36 and a beta of 1.01.

Hedge Funds Weigh In On Public Storage

A number of institutional investors have recently bought and sold shares of PSA. Rosenberg Matthew Hamilton grew its holdings in Public Storage by 9.5% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 416 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 36 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in Public Storage by 3.5% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock valued at $317,000 after acquiring an additional 36 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Public Storage by 7.0% in 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 last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Public Storage by 1.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,215 shares of the real estate investment trust’s stock valued at $575,000 after buying an additional 37 shares during the last quarter. Finally, Evermay Wealth Management LLC raised its position in Public Storage by 13.3% in the 2nd quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust’s stock valued at $95,000 after purchasing an additional 38 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

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.