Public Storage (NYSE:PSA) was downgraded by equities research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday, Marketbeat reports. They presently have a $212.00 target price on the real estate investment trust’s stock. Bank of America’s price objective suggests a potential downside of 0.03% from the company’s previous close. The analysts noted that the move was a valuation call.
Other research analysts also recently issued research reports about the company. B. Riley restated a “neutral” rating on shares of Public Storage in a research note on Wednesday, November 1st. Jefferies Group set a $210.00 price target on Public Storage and gave the stock a “hold” rating in a research note on Thursday, August 17th. Robert W. Baird downgraded Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 target price on the stock. in a research note on Tuesday, November 28th. Zacks Investment Research upgraded Public Storage from a “sell” rating to a “hold” rating in a research note on Friday, September 15th. Finally, KeyCorp reiterated a “sell” rating and issued a $184.00 target price on shares of Public Storage in a research note on Wednesday, September 13th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $210.75.
Public Storage (NYSE:PSA) traded down $1.05 during trading hours on Monday, reaching $212.07. The company had a trading volume of 810,000 shares, compared to its average volume of 851,594. The stock has a market cap of $36,908.88, a P/E ratio of 21.40, a PEG ratio of 4.48 and a beta of 0.43. Public Storage has a 12-month low of $192.15 and a 12-month high of $232.21.
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Public Storage Company Profile
Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
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