Public Storage (PSA): Today's Featured Real Estate Laggard
Public Storage (PSA) pushed the Real Estate industry lower today making it today's featured Real Estate laggard. The industry as a whole closed the day up 1.3%. By the end of trading, Public Storage fell 91 cents (-0.6%) to $147.90 on average volume. Throughout the day, 709,786 shares of Public Storage exchanged hands as compared to its average daily volume of 702,700 shares. The stock ranged in price between $147.23-$152.68 after having opened the day at $152.29 as compared to the previous trading day's close of $148.81. Other company's within the Real Estate industry that declined today were: PMC Commercial (PCC), down 5.3%, MHI Hospitality Corporation (MDH), down 4.4%, Impac Mortgage Holdings (IMH), down 3.5%, and American Spectrum Realty (AQQ), down 3.3%.
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Public Storage operates as a real estate investment trust (REIT). It engages in the acquisition, development, ownership, and operation of self-storage facilities in the United States and Europe. Public Storage has a market cap of $25.49 billion and is part of the financial sector. The company has a P/E ratio of 47.3, above the average real estate industry P/E ratio of 47.2 and above the S&P 500 P/E ratio of 17.7. Shares are up 10.5% year to date as of the close of trading on Thursday. Currently there are five analysts that rate Public Storage a buy, four analysts rate it a sell, and 10 rate it a hold.
TheStreet Ratings rates Public Storage as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
- You can view the full Public Ratings Report.
On the positive front, Doral Financial (DRL), up 10.7%, Marlin Business Services (MRLN), up 7.9%, ZipRealty (ZIPR), up 6.6%, and Consolidated-Tomoka Land (CTO), up 5.8%, were all gainers within the real estate industry with Simon Property Group (SPG) being today's featured real estate industry leader.
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For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the real estate industry could consider iShares Dow Jones US Real Estate (IYR) while those bearish on the real estate industry could consider ProShares Short Real Estate Fund (REK).
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