Public Storage (NYSE:PSA) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of Public Storage (NYSE:PSA) from a hold rating to a sell rating in a report released on Sunday morning.

Several other equities analysts have also recently commented on PSA. BNP Paribas Exane lowered their price target on shares of Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a report on Thursday, January 22nd. Wells Fargo & Company cut Public Storage from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $330.00 to $295.00 in a research report on Thursday, February 5th. William Blair set a $305.00 target price on Public Storage in a research note on Monday, March 16th. Finally, JPMorgan Chase & Co. dropped their target price on Public Storage from $295.00 to $291.00 and set a “neutral” rating on the stock in a research report on Monday, March 23rd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $306.53.

Public Storage Price Performance

NYSE PSA opened at $265.97 on Friday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $46.68 billion, a price-to-earnings ratio of 29.49, a price-to-earnings-growth ratio of 5.47 and a beta of 0.99. The company has a 50 day simple moving average of $290.29 and a 200-day simple moving average of $283.46. Public Storage has a 52-week low of $256.54 and a 52-week high of $312.95.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, March 16th. Public Storage’s payout ratio is presently 133.04%.

Hedge Funds Weigh In On Public Storage

Several institutional investors have recently bought and sold shares of the stock. Purpose Unlimited Inc. bought a new stake in shares of Public Storage during the 4th quarter worth about $467,000. Hsbc Holdings PLC increased its holdings in shares of Public Storage by 15.4% during the 4th quarter. Hsbc Holdings PLC now owns 611,312 shares of the real estate investment trust’s stock valued at $158,757,000 after acquiring an additional 81,388 shares during the last quarter. World Investment Advisors raised its stake in shares of Public Storage by 31.7% in the 4th quarter. World Investment Advisors now owns 3,253 shares of the real estate investment trust’s stock valued at $844,000 after acquiring an additional 783 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Public Storage by 10.8% in the 4th quarter. Corient Private Wealth LLC now owns 67,196 shares of the real estate investment trust’s stock worth $17,440,000 after purchasing an additional 6,554 shares during the last quarter. Finally, Bayban bought a new stake in Public Storage during the fourth quarter worth approximately $26,000. 78.79% of the stock is currently 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.