J.W. Cole Advisors Inc. Purchases 1,816 Shares of Public Storage $PSA

J.W. Cole Advisors Inc. lifted its position in Public Storage (NYSE:PSA) by 57.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,974 shares of the real estate investment trust’s stock after buying an additional 1,816 shares during the period. J.W. Cole Advisors Inc.’s holdings in Public Storage were worth $1,437,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PSA. Harbor Asset Planning Inc. bought a new position in shares of Public Storage during the 2nd quarter valued at about $25,000. First Pacific Financial acquired a new stake in Public Storage during the 3rd quarter worth approximately $26,000. Asset Dedication LLC lifted its stake in Public Storage by 111.1% in the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 50 shares in the last quarter. NewSquare Capital LLC lifted its stake in Public Storage by 60.6% in the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 40 shares in the last quarter. Finally, Tradewinds Capital Management LLC acquired a new position in shares of Public Storage in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Up 1.5%

PSA stock opened at $287.05 on Monday. The company has a market cap of $50.37 billion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 9.72 and a beta of 1.01. Public Storage has a twelve month low of $256.54 and a twelve month high of $322.49. The business has a 50 day moving average price of $273.30 and a two-hundred day moving average price of $281.76. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PSA. JPMorgan Chase & Co. restated a “neutral” rating and set a $301.00 price objective (down from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Deutsche Bank Aktiengesellschaft lowered 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. Wells Fargo & Company downgraded Public Storage from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $330.00 to $295.00 in a report on Thursday. Truist Financial boosted their target price on Public Storage from $315.00 to $317.00 and gave the company a “buy” rating in a research note on Tuesday, January 20th. Finally, Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price target for the company. in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $306.63.

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.