Public Storage $PSA Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its stake in shares of Public Storage (NYSE:PSAFree Report) by 35.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 14,158 shares of the real estate investment trust’s stock after purchasing an additional 3,741 shares during the period. Advisors Asset Management Inc.’s holdings in Public Storage were worth $4,090,000 at the end of the most recent reporting period.

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

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Public Storage Stock Performance

Shares of Public Storage stock opened at $300.55 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99. Public Storage has a 52 week low of $256.54 and a 52 week high of $322.49. The firm’s 50 day moving average is $275.29 and its two-hundred day moving average is $282.08. The firm has a market capitalization of $52.74 billion, a P/E ratio of 33.32, a P/E/G ratio of 9.91 and a beta of 1.01.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PSA. Mizuho dropped their price objective on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a report on Friday, December 5th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $301.00 price target (down previously from $316.00) on shares of Public Storage in a research note on Thursday, December 18th. Deutsche Bank Aktiengesellschaft cut Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price objective on the stock. in a research note on Tuesday, January 20th. BMO Capital Markets decreased their target price on Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a report on Monday, December 22nd. Finally, Evercore lowered their target price on Public Storage from $309.00 to $305.00 in a research note on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $306.63.

Check Out Our Latest Stock Analysis on Public Storage

Public Storage Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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