Public Storage (PSA) is Downgraded by Goldman to Sell

Public Storage (PSA) was Downgraded by Goldman to ” Sell”. Earlier the firm had a rating of “Neutral ” on the company shares. Goldman advised their investors in a research report released on Apr 25, 2016.

Many Wall Street Analysts have commented on Public Storage. Company shares were Reiterated by Barclays on Feb 22, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 232 from a previous price target of $218 .Company shares were Reiterated by Argus on Jan 27, 2016 to “Buy”, Firm has raised the Price Target to $ 275 from a previous price target of $248 .

On the company’s financial health, Public Storage reported $2.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Oct 28, 2015. Analyst had a consensus of $2.26. The company had revenue of $618.87 million for the quarter, compared to analysts expectations of $615.19 million. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.11 EPS.

Public Storage opened for trading at $255.8 and hit $257.16 on the upside on Friday, eventually ending the session at $256.94, with a gain of 0.73% or 1.85 points. The heightened volatility saw the trading volume jump to 7,84,992 shares. Company has a market cap of $44,520 M.

In a different news, on Mar 17, 2016, Candace N. Krol (CHRO & SVP) sold 3,000 shares at $263.50 per share price. According to the SEC, on Mar 4, 2016, David F Doll (SENIOR VICE PRESIDENT) sold 20,000 shares at $252.25 per share price. On Dec 16, 2015, John Reyes (SENIOR VICE PRESIDENT / CFO) sold 25,000 shares at $248.50 per share price, according to the Form-4 filing with the securities and exchange commission.

Public Storage (the Trust) is a real estate investment trust (REIT). The Trust’s principal business activities include Domestic Self-Storage European Self-Storage and Commercial. 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. It has direct and indirect equity interests in self-storage facilities in the United States operating under the Public Storage brand name. The Trust has an around 49% equity interest in Shurgard Self Storage Europe Limited (Shurgard Europe) which owns approximately 192 self-storage facilities (10 million net rentable square feet of space) located in seven countries in Western Europe operated under the Shurgard brand name. The Trust has an around 42% equity interest in PS Business Parks Inc. (PSB) a publicly held REIT which owns and operates around 28.6 million net rentable square feet of commercial space.

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Public Storage - Is it time to Sell?

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