Public Storage (PSA) Given Consensus Recommendation of “Hold” by Analysts
Public Storage (NYSE:PSA) has been given an average rating of “Hold” by the sixteen brokerages that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $206.08.
PSA has been the topic of a number of research reports. Goldman Sachs Group downgraded Public Storage from a “neutral” rating to a “sell” rating in a research note on Wednesday, August 22nd. Citigroup reduced their price objective on Public Storage from $235.00 to $202.00 and set a “hold” rating on the stock in a research note on Friday, October 5th. BMO Capital Markets reaffirmed a “sell” rating and issued a $194.00 price objective on shares of Public Storage in a research note on Wednesday, August 1st. Barclays lifted their price objective on Public Storage from $205.00 to $212.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 17th. Finally, Argus lifted their price objective on Public Storage to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, July 17th.
PSA traded down $0.91 on Friday, hitting $200.82. 1,003,269 shares of the company’s stock traded hands, compared to its average volume of 931,556. The company has a market capitalization of $34.99 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 3.85 and a beta of 0.19. Public Storage has a one year low of $180.48 and a one year high of $234.90. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.29.
In other Public Storage news, CEO Ronald L. Havner, Jr. sold 100,000 shares of Public Storage stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $211.54, for a total value of $21,154,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 14.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Kiley Juergens Wealth Management LLC purchased a new position in shares of Public Storage in the 2nd quarter worth approximately $142,000. Quad Cities Investment Group LLC purchased a new position in shares of Public Storage in the 2nd quarter worth approximately $151,000. Landaas & Co. WI ADV purchased a new position in shares of Public Storage in the 2nd quarter worth approximately $156,000. Parallel Advisors LLC boosted its holdings in shares of Public Storage by 61.7% in the 2nd quarter. Parallel Advisors LLC now owns 765 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 292 shares during the period. Finally, Centaurus Financial Inc. purchased a new position in shares of Public Storage in the 2nd quarter worth approximately $199,000. Hedge funds and other institutional investors own 81.12% of the company’s stock.
About Public Storage
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California. At June 30, 2018, we had interests in 2,402 self-storage facilities located in 38 states with approximately 160 million net rentable square feet in the United States and 228 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the ?Shurgard? brand.
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