Caprock Group LLC Acquires Shares of 3,883 Public Storage $PSA

Caprock Group LLC bought a new stake in Public Storage (NYSE:PSAFree Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,883 shares of the real estate investment trust’s stock, valued at approximately $1,144,000.

Other hedge funds have also added to or reduced their stakes in the company. Patrick M Sweeney & Associates Inc. lifted its position in Public Storage by 3.5% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock valued at $317,000 after purchasing an additional 36 shares during the period. CoreCap Advisors LLC lifted its holdings in Public Storage by 7.0% in the third quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock valued at $164,000 after buying an additional 37 shares during the period. Evermay Wealth Management LLC boosted its stake in Public Storage by 13.3% in the second quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust’s stock valued at $95,000 after acquiring an additional 38 shares during the last quarter. KCM Investment Advisors LLC boosted its stake in Public Storage by 2.9% in the second quarter. KCM Investment Advisors LLC now owns 1,349 shares of the real estate investment trust’s stock valued at $396,000 after acquiring an additional 38 shares during the last quarter. Finally, Cape ANN Savings Bank grew its holdings in Public Storage by 1.4% during the 3rd quarter. Cape ANN Savings Bank now owns 2,793 shares of the real estate investment trust’s stock worth $807,000 after acquiring an additional 38 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage News Roundup

Here are the key news stories impacting Public Storage this week:

Public Storage Price Performance

Shares of PSA opened at $300.55 on Friday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.45 and a current ratio of 0.45. The stock has a 50 day simple moving average of $275.29 and a 200 day simple moving average of $282.00. Public Storage has a 52-week low of $256.54 and a 52-week high of $322.49. The firm has a market capitalization of $52.73 billion, a PE ratio of 33.32, a P/E/G ratio of 10.18 and a beta of 1.01.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PSA. BNP Paribas Exane cut their price target on Public Storage from $329.00 to $315.00 in a research note on Tuesday, December 23rd. Raymond James Financial cut their target price on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 18th. Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research report on Thursday, January 22nd. Evercore lowered their price target on Public Storage from $309.00 to $305.00 in a research note on Monday, January 12th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $301.00 price target (down from $316.00) on shares of Public Storage in a research report on Thursday, December 18th. Two research 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $306.63.

Check Out Our Latest Report on PSA

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.

Further Reading

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

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