Independent Advisor Alliance Has $1.96 Million Stock Holdings in Public Storage $PSA

Independent Advisor Alliance increased its position in Public Storage (NYSE:PSA) by 168.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,783 shares of the real estate investment trust’s stock after purchasing an additional 4,257 shares during the quarter. Independent Advisor Alliance’s holdings in Public Storage were worth $1,959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSA. Vanguard Group Inc. boosted its stake in shares of Public Storage by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 20,815,476 shares of the real estate investment trust’s stock worth $6,107,677,000 after acquiring an additional 79,580 shares during the period. State Street Corp lifted its holdings in Public Storage by 1.2% during the 2nd quarter. State Street Corp now owns 10,613,807 shares of the real estate investment trust’s stock valued at $3,114,303,000 after purchasing an additional 126,113 shares during the last quarter. Norges Bank acquired a new stake in Public Storage during the 2nd quarter valued at $1,153,971,000. JPMorgan Chase & Co. boosted its position in Public Storage by 3.4% during the second quarter. JPMorgan Chase & Co. now owns 3,157,067 shares of the real estate investment trust’s stock worth $926,357,000 after purchasing an additional 103,965 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Public Storage by 3.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,924,395 shares of the real estate investment trust’s stock valued at $857,674,000 after purchasing an additional 87,918 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 1.5%

Shares of PSA opened at $272.15 on Tuesday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. Public Storage has a 12 month low of $256.54 and a 12 month high of $322.49. The firm’s 50 day moving average is $272.46 and its 200-day moving average is $281.84. The stock has a market capitalization of $47.75 billion, a PE ratio of 28.26, a P/E/G ratio of 7.19 and a beta of 1.01.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Public Storage from $332.00 to $321.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Mizuho lowered their price target on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, December 5th. Wolfe Research downgraded shares of Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Wall Street Zen downgraded Public Storage from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Public Storage in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $313.19.

Public Storage Company 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.