Jones Financial Companies Lllp Boosts Stock Position in Public Storage $PSA

Jones Financial Companies Lllp increased its position in shares of Public Storage (NYSE:PSA) by 19.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,094 shares of the real estate investment trust’s stock after acquiring an additional 6,814 shares during the period. Jones Financial Companies Lllp’s holdings in Public Storage were worth $11,766,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Harbor Asset Planning Inc. acquired a new stake in shares of Public Storage during the second quarter worth about $25,000. First Pacific Financial purchased a new stake in Public Storage during the 3rd quarter worth approximately $26,000. Asset Dedication LLC increased its stake in Public Storage by 111.1% during the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 50 shares during the period. NewSquare Capital LLC lifted its holdings in Public Storage by 60.6% during the 2nd quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 40 shares in the last quarter. Finally, Tradewinds Capital Management LLC purchased a new position in Public Storage in the 3rd quarter valued at approximately $33,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Up 3.2%

Shares of NYSE PSA opened at $288.62 on Thursday. The business has a 50-day moving average of $272.88 and a two-hundred day moving average of $281.86. The company has a market capitalization of $50.64 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 7.28 and a beta of 1.01. Public Storage has a 1 year low of $256.54 and a 1 year high of $322.49. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.45 and a quick ratio of 0.45.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Evercore ISI cut their price objective on Public Storage from $309.00 to $305.00 in a research report on Monday, January 12th. BMO Capital Markets lowered their target price on Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a research note on Monday, December 22nd. Deutsche Bank Aktiengesellschaft downgraded Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target on the stock. in a report on Tuesday, January 20th. The Goldman Sachs Group decreased their price objective on Public Storage from $332.00 to $321.00 and set a “buy” rating for the company in a research note on Thursday, January 15th. Finally, Wolfe Research downgraded Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average price target of $313.19.

Public Storage Profile

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.