First Nebraska Trust Co purchased a new stake in Public Storage (NYSE:PSA – Free Report) during the 1st quarter, Holdings Channel.com reports. The fund purchased 11,012 shares of the real estate investment trust’s stock, valued at approximately $2,983,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of PSA. Empowered Funds LLC increased its stake in Public Storage by 13.3% in the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after acquiring an additional 373 shares during the period. Sivia Capital Partners LLC bought a new position in Public Storage during the second quarter worth about $929,000. Nebula Research & Development LLC acquired a new stake in Public Storage during the second quarter valued at approximately $1,113,000. Treasurer of the State of North Carolina boosted its holdings in Public Storage by 1.9% during the second quarter. Treasurer of the State of North Carolina now owns 73,774 shares of the real estate investment trust’s stock valued at $21,647,000 after purchasing an additional 1,390 shares in the last quarter. Finally, Ieq Capital LLC boosted its holdings in Public Storage by 219.8% during the second quarter. Ieq Capital LLC now owns 48,190 shares of the real estate investment trust’s stock valued at $14,140,000 after purchasing an additional 33,122 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.
Public Storage Stock Up 2.4%
Shares of NYSE PSA opened at $324.99 on Friday. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The firm’s 50-day simple moving average is $317.75 and its 200 day simple moving average is $301.83. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The company has a market cap of $57.05 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 4.37 and a beta of 0.96.
Public Storage Dividend Announcement
Insider Activity
In other news, insider Nathaniel A. Vitan sold 950 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $324.81, for a total transaction of $308,569.50. Following the transaction, the insider directly owned 1,414 shares in the company, valued at approximately $459,281.34. This represents a 40.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.10% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on PSA. Evercore set a $316.00 target price on Public Storage in a report on Monday, July 6th. BNP Paribas Exane boosted their price target on Public Storage from $331.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. Citigroup upped their price target on Public Storage from $325.00 to $363.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Raymond James Financial assumed coverage on Public Storage in a research note on Thursday, July 16th. They set a “market perform” rating for the company. Finally, Truist Financial lifted their price objective on Public Storage from $302.00 to $338.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of “Hold” and a consensus price target of $326.05.
Get Our Latest Report on Public Storage
About Public Storage
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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