Bank of America Corp DE lessened its position in Public Storage (NYSE:PSA - Free Report) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 751,808 shares of the real estate investment trust's stock after selling 74,464 shares during the period. Bank of America Corp DE owned 0.43% of Public Storage worth $203,650,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in PSA. Bayban bought a new position in Public Storage during the 4th quarter worth approximately $26,000. Harvest Fund Management Co. Ltd bought a new position in Public Storage during the third quarter worth $27,000. Wealth Watch Advisors INC acquired a new position in Public Storage in the third quarter valued at $34,000. Raiffeisen Bank International AG lifted its holdings in Public Storage by 35.2% in the fourth quarter. Raiffeisen Bank International AG now owns 142 shares of the real estate investment trust's stock valued at $37,000 after buying an additional 37 shares during the period. Finally, Knuff & Co LLC bought a new stake in Public Storage during the fourth quarter valued at $38,000. 78.79% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Public Storage
In other Public Storage news, insider Nathaniel A. Vitan sold 950 shares of Public Storage stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $324.81, for a total transaction of $308,569.50. Following the completion of the transaction, the insider owned 1,414 shares in the company, valued at approximately $459,281.34. The trade was a 40.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.10% of the company's stock.
Public Storage Price Performance
Shares of PSA opened at $326.58 on Wednesday. The business's fifty day moving average is $318.61 and its 200 day moving average is $302.59. Public Storage has a 12-month low of $256.54 and a 12-month high of $335.55. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.06. The stock has a market cap of $57.33 billion, a P/E ratio of 31.16, a P/E/G ratio of 4.39 and a beta of 0.96.
Wall Street Analyst Weigh In
PSA has been the subject of several research analyst reports. BNP Paribas Exane lifted their price objective on Public Storage from $331.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday, May 22nd. Weiss Ratings raised Public Storage from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 12th. Barclays reiterated an "equal weight" rating and issued a $349.00 target price on shares of Public Storage in a report on Friday, July 10th. JPMorgan Chase & Co. boosted their price target on Public Storage from $291.00 to $338.00 and gave the company a "neutral" rating in a research note on Thursday, June 11th. Finally, BMO Capital Markets increased their price target on Public Storage from $305.00 to $340.00 and gave the stock a "market perform" rating in a report on Monday, June 15th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $326.05.
Check Out Our Latest Analysis 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.
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