Self-storage REIT Public Storage ( PSA ) on Wednesday saw its rating cut by analysts at BMO Capital.
The firm said it downgraded PSA from "Market Perform" to "Underperform" and maintained its price target at $103. That target suggests a 14% downside to the stock's Tuesday closing price of $119.49.
Public Storage shares, which are up nearly 18% year-to-date, fell 99 cents, or -0.8%, in premarket trading Wednesday.
The Bottom Line
Shares of Public Storage ( PSA ) have a 3.18% dividend yield, based on last night's closing stock price of $119.49. The stock has technical support in the $110-$115 price area. The stock is trading near all-time high levels of $122-$123 a share.
Public Storage ( PSA ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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