Public Storage (PSA) Gets a Sell Rating from Wells Fargo

By Carrie Williams

In a report released today, Todd Stender from Wells Fargo maintained a Sell rating on Public Storage (PSAResearch Report). The company’s shares closed last Thursday at $196.27.

According to TipRanks.com, Stender is a 4-star analyst with an average return of 5.9% and a 59.7% success rate. Stender covers the Financial sector, focusing on stocks such as Diversified Healthcare Trust, National Storage Affiliates, and National Retail Properties.

Public Storage has an analyst consensus of Hold, with a price target consensus of $203.22.

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The company has a one-year high of $266.76 and a one-year low of $155.37. Currently, Public Storage has an average volume of 1.19M.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PSA in relation to earlier this year. Earlier this month, Uri Harkham, a Director at PSA bought 1,500 shares for a total of $217,455.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Public Storage operates as a real estate investment trust. The firm engages in acquiring, developing, owning and operating self-storage facilities. It operates through the following segments: Self-storage Operations, Ancillary Operations, Investment in PS Business Parks and Investment in Shurgard. The Self-storage Operations segment reflects the rental operations from all self-storage facilities. The Ancillary Operations segment deals with the sale of merchandise and reinsurance of policies against losses to goods stored by self-storage tenants, activities which are incidental to the primary self-storage rental activities. The Investment in PS Business Parks segment includes commercial properties, primarily multi-tenant flex, office, and industrial parks. The Investment in Shurgard segment owns self-storage facilities located in seven countries in Western Europe operated under the Shurgard brand name. The company was founded by Bradley Wayne Hughes, Sr. and Kenneth Q. Volk, Jr. in 1972 and is headquartered in Glendale, CA.