Public Storage (NYSE:PSA) Price Target Lowered to $291.00 at JPMorgan Chase & Co.

Public Storage (NYSE:PSA) had its price target lowered by analysts at JPMorgan Chase & Co. from $295.00 to $291.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 7.94% from the company’s previous close.

A number of other equities analysts have also recently weighed in on PSA. UBS Group lowered their price objective on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. BMO Capital Markets restated a “market perform” rating on shares of Public Storage in a research note on Monday, March 16th. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research report on Thursday, January 22nd. Wolfe Research cut Public Storage from an “outperform” rating to a “peer perform” rating in a research note on Monday, January 26th. Finally, BNP Paribas Exane cut their price objective on Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $306.53.

Public Storage Trading Up 1.4%

Shares of PSA traded up $3.82 during trading on Monday, reaching $269.60. 114,052 shares of the company traded hands, compared to its average volume of 1,253,814. The stock has a 50-day simple moving average of $292.15 and a 200-day simple moving average of $284.33. The stock has a market cap of $47.32 billion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 5.37 and a beta of 0.99. Public Storage has a twelve month low of $256.54 and a twelve month high of $312.95. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 2.05.

Hedge Funds Weigh In On Public Storage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSA. First Pacific Financial acquired a new position in shares of Public Storage in the third quarter worth $26,000. Bayban acquired a new stake in shares of Public Storage in the fourth quarter valued at $26,000. Harvest Fund Management Co. Ltd purchased a new position in Public Storage in the third quarter valued at $27,000. Asset Dedication LLC boosted its holdings in Public Storage by 111.1% in the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 50 shares during the period. Finally, Raiffeisen Bank International AG acquired a new position in Public Storage during the 3rd quarter worth $30,000. 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 (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.