Principal Financial Group Inc. Has $67.46 Million Stock Position in Public Storage $PSA

Principal Financial Group Inc. lessened its holdings in shares of Public Storage (NYSE:PSA) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 233,558 shares of the real estate investment trust’s stock after selling 4,905 shares during the period. Principal Financial Group Inc. owned 0.13% of Public Storage worth $67,463,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. UMB Bank n.a. lifted its holdings in Public Storage by 0.3% during the 3rd quarter. UMB Bank n.a. now owns 28,839 shares of the real estate investment trust’s stock worth $8,330,000 after buying an additional 91 shares during the period. Transcend Capital Advisors LLC raised its position in shares of Public Storage by 4.9% during the third quarter. Transcend Capital Advisors LLC now owns 2,440 shares of the real estate investment trust’s stock worth $705,000 after acquiring an additional 114 shares during the last quarter. Independent Advisor Alliance boosted its holdings in Public Storage by 168.5% in the third quarter. Independent Advisor Alliance now owns 6,783 shares of the real estate investment trust’s stock valued at $1,959,000 after acquiring an additional 4,257 shares during the last quarter. Columbia Asset Management increased its position in Public Storage by 6.6% during the 3rd quarter. Columbia Asset Management now owns 5,542 shares of the real estate investment trust’s stock valued at $1,601,000 after purchasing an additional 345 shares during the period. Finally, National Pension Service raised its holdings in Public Storage by 4.2% during the 3rd quarter. National Pension Service now owns 255,300 shares of the real estate investment trust’s stock worth $73,743,000 after purchasing an additional 10,345 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BNP Paribas Exane dropped their target price on shares of Public Storage from $329.00 to $315.00 in a report on Tuesday, December 23rd. Raymond James Financial lowered their price objective on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 18th. Wells Fargo & Company upped their target price on Public Storage from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Truist Financial raised their target price on Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Finally, Morgan Stanley initiated coverage on Public Storage in a research note on Friday, December 5th. They issued an “equal weight” rating and a $290.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $313.19.

Public Storage Price Performance

Shares of PSA opened at $279.43 on Wednesday. The business’s fifty day moving average is $272.60 and its 200 day moving average is $281.81. Public Storage has a 12-month low of $256.54 and a 12-month high of $322.49. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99. The stock has a market cap of $49.03 billion, a P/E ratio of 29.02, a P/E/G ratio of 7.08 and a beta of 1.01.

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.