Public Storage (PSA) is Downgraded by Goldman to Neutral

Public Storage (PSA) is Downgraded by Goldman to Neutral , according to the research report released to the investors. Earlier the firm had a rating of Buy on the company shares. The shares recommendation by the Brokerage Firm was released on Jan-4-2016.

Public Storage is up 15.77% in the last 3-month period. Year-to-Date the stock performance stands at 37.42%.

Public Storage (NYSE:PSA) has dropped 0.22% during the past week, however, the bigger picture is still very bullish; the shares have posted positive gains of 2.4% in the last 4 weeks. In the past week, the shares have outperformed the S&P 500 by 0.61% and the outperformance increases to 4.79% for the last 4 weeks.

Shares of Public Storage (NYSE:PSA) ended Thursday session in red amid volatile trading. The shares closed down 2.76 points or 1.1% at $247.7 with 517,948 shares getting traded. Post opening the session at $250.5, the shares hit an intraday low of $247.66 and an intraday high of $250.84 and the price vacillated in this range throughout the day. The company has a market cap of $42,891 million and the number of outstanding shares have been calculated to be 173,155,580 shares. The 52-week high of Public Storage (NYSE:PSA) is $253.93 and the 52-week low is $182.08.

Currently the company Insiders own 15.3% of Public Storage shares according to the proxy statements. Institutional Investors own 79.18% of Public Storage shares. On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Reyes John, officer (SENIOR VICE PRESIDENT / CFO) of Public Storage, unloaded 25,000 shares at an average price of $248.5 on December 14, 2015. The total amount of the transaction was worth $6,212,500, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Public Storage (the Trust) is a real estate investment trust (REIT). As of December 31, 2013, the Trusts principal business activities included: 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 is an owner and operator of self-storage facilities in the United States. It has direct and indirect equity interests in 2,200 self-storage facilities (141 million net rentable square feet of space) located in 38 states within the United States operating under the Public Storage brand name. The Trust has a 49% equity interest in Shurgard Europe, with an institutional investor owning the remaining 51% interest. It has a 42% equity interest in PS Business Parks, Inc. (PSB), which owns and operates 28.3 million net rentable square feet of commercial space.