Public Storage (PSA) : During the past 4 weeks, traders have been relatively bearish on Public Storage (PSA), hence the stock is down -9.46% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -1.17% relative to the S&P 500. The 4-week change in the price of the stock is -8.52% and the stock has fallen -1.11% in the past 1 week.
The stock has recorded a 20-day Moving Average of 4.81% and the 50-Day Moving Average is 6.62%. Public Storage (NYSE:PSA): On Fridays trading session , Opening price of the stock was $230.85 with an intraday high of $233.39. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $229.56. However, the stock managed to close at $230.17, a loss of 0.29% for the day. On the previous day, the stock had closed at $230.83. The total traded volume of the day was 525,648 shares.
The company Insiders own 14.2% of Public Storage shares according to the proxy statements. Institutional Investors own 79.51% of Public Storage shares. During last six month period, the net percent change held by insiders has seen a change of -6.47%. Also, In the latest statement by the brokerage house, Bank of America downgrades its outlook on Public Storage (NYSE:PSA). The current rating of the shares is Neutral, according to the research report released by the firm. Previously, the company had a rating of Buy. The rating by the firm was issued on August 11, 2016.
Public Storage (the Trust) is a real estate investment trust (REIT). The Trusts 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.