Public Storage (NYSE:PSA) was upgraded by research analysts at Jefferies Financial Group from an “underperform” rating to a “hold” rating in a note issued to investors on Tuesday, April 9th, Marketbeat Ratings reports. The brokerage presently has a $201.00 target price on the real estate investment trust’s stock, up from their previous target price of $181.00. Jefferies Financial Group’s target price would suggest a potential downside of 11.36% from the stock’s previous close.
Several other research analysts also recently issued reports on the stock. Barclays reissued a “hold” rating and set a $215.00 price objective on shares of Public Storage in a research report on Thursday, March 7th. Bank of America set a $230.00 target price on shares of Public Storage and gave the stock a “hold” rating in a research note on Friday, March 1st. Finally, Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $211.88.
Shares of NYSE:PSA traded down $0.11 during trading hours on Tuesday, reaching $226.75. The stock had a trading volume of 462,119 shares, compared to its average volume of 889,487. Public Storage has a 1 year low of $193.89 and a 1 year high of $234.90. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.28. The company has a market cap of $39.57 billion, a PE ratio of 21.47, a P/E/G ratio of 5.18 and a beta of 0.26.
Several hedge funds and other institutional investors have recently made changes to their positions in PSA. Sage Capital Advisors llc purchased a new position in Public Storage during the 4th quarter valued at about $29,000. Liberty Wealth Management LLC purchased a new position in Public Storage during the 4th quarter valued at about $37,000. Cornerstone Advisors Inc. increased its holdings in Public Storage by 42.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 202 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 60 shares in the last quarter. CNB Bank purchased a new position in Public Storage during the 4th quarter valued at about $42,000. Finally, Truvestments Capital LLC purchased a new position in Public Storage during the 1st quarter valued at about $48,000. Hedge funds and other institutional investors own 80.79% 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 December 31, 2018, we had interests in 2,429 self-storage facilities located in 38 states with approximately 162 million net rentable square feet in the United States and we owned a 35.2% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR), which owned 232 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand.
Recommended Story: What kind of dividend yield to CEF’s pay?
Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.