Public Storage (NYSE:PSA – Get Rating) had its price objective lowered by equities researchers at Morgan Stanley from $357.00 to $298.00 in a report issued on Wednesday, The Fly reports. Morgan Stanley’s target price suggests a potential downside of 8.59% from the stock’s current price.
Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut Public Storage from a “buy” rating to a “hold” rating and set a $335.00 target price on the stock. in a report on Wednesday, May 18th. StockNews.com upgraded shares of Public Storage from a “hold” rating to a “buy” rating in a research report on Friday, May 6th. BMO Capital Markets upgraded Public Storage from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $410.00 to $370.00 in a report on Thursday, May 19th. Raymond James cut their price objective on Public Storage from $375.00 to $365.00 in a research report on Monday. Finally, The Goldman Sachs Group increased their target price on shares of Public Storage from $398.00 to $440.00 and gave the stock a “neutral” rating in a research note on Thursday, April 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $356.79.
Shares of PSA opened at $325.99 on Wednesday. The stock has a 50 day moving average price of $370.33 and a 200 day moving average price of $359.17. Public Storage has a one year low of $276.15 and a one year high of $421.76. The company has a debt-to-equity ratio of 1.39, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a market capitalization of $57.20 billion, a price-to-earnings ratio of 31.68, a PEG ratio of 2.83 and a beta of 0.28.
In other Public Storage news, Director Rebecca L. Owen sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $358.25, for a total value of $1,791,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 11.00% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC acquired a new stake in Public Storage in the fourth quarter valued at $25,000. Mystic Asset Management Inc. purchased a new stake in Public Storage in the 4th quarter valued at approximately $26,000. Lee Financial Co acquired a new stake in shares of Public Storage during the fourth quarter valued at $27,000. CVA Family Office LLC acquired a new position in shares of Public Storage in the fourth quarter valued at approximately $30,000. Finally, Investors Research Corp lifted its stake in shares of Public Storage by 102.5% during the first quarter. Investors Research Corp now owns 81 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 41 shares during the period. Institutional investors own 78.54% of the company’s stock.
About Public Storage (Get Rating)
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. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.
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