Public Storage (PSA) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Public Storage (NYSE:PSA) by 6.9% during the 4th quarter, HoldingsChannel reports. The firm owned 45,517 shares of the real estate investment trust’s stock after selling 3,366 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Public Storage were worth $9,513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Mutual of America Capital Management LLC boosted its position in shares of Public Storage by 3.6% during the 4th quarter. Mutual of America Capital Management LLC now owns 19,021 shares of the real estate investment trust’s stock worth $3,975,000 after purchasing an additional 663 shares in the last quarter. Resources Investment Advisors Inc. boosted its position in shares of Public Storage by 3,685.1% during the 4th quarter. Resources Investment Advisors Inc. now owns 3,823 shares of the real estate investment trust’s stock worth $799,000 after purchasing an additional 3,722 shares in the last quarter. Epstein & White Financial LLC purchased a new stake in shares of Public Storage during the 4th quarter worth $282,000. BB&T Corp boosted its position in shares of Public Storage by 43.1% during the 4th quarter. BB&T Corp now owns 9,414 shares of the real estate investment trust’s stock worth $1,968,000 after purchasing an additional 2,837 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of Public Storage during the 4th quarter worth $1,508,000. Institutional investors own 80.79% of the company’s stock.

In other news, Director Gary E. Pruitt sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the completion of the transaction, the director now owns 8,350 shares of the company’s stock, valued at approximately $1,770,951.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Reyes sold 60,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $212.24, for a total transaction of $12,734,400.00. The disclosure for this sale can be found here. Corporate insiders own 14.42% of the company’s stock.

Public Storage (NYSE PSA) opened at $190.31 on Monday. Public Storage has a one year low of $188.39 and a one year high of $232.21. The company has a market cap of $33,121.74, a PE ratio of 19.20, a PEG ratio of 3.74 and a beta of 0.31.

Several equities research analysts recently commented on the stock. B. Riley reiterated a “neutral” rating on shares of Public Storage in a research report on Wednesday, November 1st. Bank of America lowered shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 price objective on the stock. in a research report on Monday, December 4th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Public Storage from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Barclays reissued a “hold” rating and issued a $207.00 target price on shares of Public Storage in a research note on Thursday, October 19th. Finally, Robert W. Baird downgraded shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 target price for the company. in a research note on Tuesday, November 28th. Eight equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $208.92.

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Public Storage Company Profile

Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.

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

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