Finally Time To Cut Your Stake? JP Morgan Downgrades Public Storage (NYSE:PSA) Shares


Public Storage (NYSE:PSA) Receives a Downgrade

Shares of Public Storage (NYSE:PSA) were downgraded to a “Neutral” by analysts at JP Morgan. PSA’s rating of a “Overweight” has been discontinued.

From a total of 16 analysts covering Public Storage (NYSE:PSA) stock, 6 rate it a ”Buy”, 2 a “Sell”, and 12 a ”Hold”. This means that 30% of the ratings are positive. The highest target price is $263 while the lowest target price is $200. The mean of all analyst targets is $231.59 with a -10.89% below today’s ($247.05) stock price. Public Storage was the topic of 19 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. KeyBanc Capital Markets upgraded shares on December 7 to “Sector Weight” rating. Zacks upgraded shares to “Buy” rating and $223 target share price in a report from a September 2. Barclays Capital maintained PSA stock in a recent report from November 11 with “Overweight” rating. Robert W. Baird initiated the rating on July 23. Robert W. Baird has a “Neutral” rating and a $212 price target on shares. Finally, RBC Capital Markets maintained the stock with “Sector Perform” rating in a report issued on a November 9.

Approximately 254,158 shares of stock traded hands. Public Storage (NYSE:PSA) has risen 26.58% since May 14, 2015 and is uptrending. It has outperformed by 28.84% the S&P500.

The overall sentiment of institutions has decreased to 0.43 in Q2 2015. Its down 0.07, from 0.5 in 2015Q2. The ratio worsened, as 2 institutions have sold all the shares of Public Storage that they owned while 5 funds have taken shares off the table. 1 funds have purchased shares for the first time while 2 added to their positions. These institutions now hold 358,461 shares or 1.52% less than the 364,003 shares they owned in 2015Q2.

The Fund Van Hulzen Asset Management Llc currently is holding shares equating to 1.22% of its total portfolio in Public Storage representing a total of 73,623 shares. Another fund,Roundview Capital Llc, is holding a total of 31,690 shares equating to 0.35% of their holdings. Additionally, Fulton Breakefield Broenniman Llc has a 34,980 share stake in Public Storage which represents 0.21% of their total portfolio. The Fund, Roosevelt Investment Group Inc, based out of New York, has also built up a stake in the stock, which represents a total of 0.2% of their total portfolio. Finally Spirit Of America Management Corp Ny, a fund which is based in the state of New York reported a total holdings of 32,490 shares.

Public Storage is a real estate investment trust (REIT). The company has a market cap of $42.81 billion. The Trust’s principal business activities include Domestic Self-Storage, European Self-Storage and Commercial. It has 41.39 P/E ratio. The Trust acquires, develops, owns and operates self-storage facilities, which offer storage spaces for lease, on a month-to-month basis, for personal and business use.

According to Zacks Investment Research, “Public Storage, Inc. is a fully integrated, self-administered and self-managed real estate investment trust that primarily acquires, develops, owns and operates self-storage facilities. The Company’s headquarters is located in Glendale, California. Public Storage is America’s premier storage company. Over the past three decades, the company has shown consistent growth in the number of properties owned, as well as in the range of services provided.”