Wall Street Zen Upgrades Public Storage (NYSE:PSA) to “Hold”

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

PSA has been the subject of several other research reports. Truist Financial boosted their price objective on shares of Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $301.00 price target (down from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Wells Fargo & Company downgraded Public Storage from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $330.00 to $295.00 in a research report on Thursday, February 5th. BMO Capital Markets reiterated a “market perform” rating on shares of Public Storage in a report on Monday, March 16th. Finally, Deutsche Bank Aktiengesellschaft cut Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price objective for the company. in a research report on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $307.00.

Public Storage Stock Performance

PSA stock opened at $265.99 on Friday. Public Storage has a one year low of $256.54 and a one year high of $312.95. The firm has a market cap of $46.68 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 5.37 and a beta of 0.99. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a 50-day simple moving average of $292.15 and a two-hundred day simple moving average of $284.33.

Institutional Trading of Public Storage

Several large investors have recently bought and sold shares of PSA. Patrick M Sweeney & Associates Inc. lifted its stake in shares of Public Storage by 3.5% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock worth $317,000 after buying an additional 36 shares during the period. CoreCap Advisors LLC grew its holdings in shares of Public Storage by 7.0% during the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 37 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of 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 valued at $575,000 after acquiring an additional 37 shares during the period. Raiffeisen Bank International AG raised its stake in 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 acquiring an additional 37 shares during the last quarter. Finally, Cape ANN Savings Bank raised its stake in 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 acquiring an additional 38 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.