Blue Sky Asset Management LLC Invests $470,000 in Public Storage (PSA)

Blue Sky Asset Management LLC purchased a new position in shares of Public Storage (NYSE:PSA) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,250 shares of the real estate investment trust’s stock, valued at approximately $470,000.

Several other large investors have also modified their holdings of PSA. Numeric Investors LLC grew its position in shares of Public Storage by 20.6% during the 2nd quarter. Numeric Investors LLC now owns 4,100 shares of the real estate investment trust’s stock worth $855,000 after buying an additional 700 shares during the period. Prudential PLC acquired a new stake in shares of Public Storage during the 2nd quarter worth approximately $200,000. Shelton Capital Management acquired a new stake in shares of Public Storage during the 2nd quarter worth approximately $216,000. Janus Henderson Group PLC grew its position in shares of Public Storage by 391.3% during the 2nd quarter. Janus Henderson Group PLC now owns 103,608 shares of the real estate investment trust’s stock worth $21,604,000 after buying an additional 82,520 shares during the period. Finally, Gotham Asset Management LLC grew its position in shares of Public Storage by 7.7% during the 2nd quarter. Gotham Asset Management LLC now owns 4,086 shares of the real estate investment trust’s stock worth $852,000 after buying an additional 291 shares during the period. Institutional investors own 80.79% of the company’s stock.

PSA has been the subject of several analyst reports. Barclays reiterated a “hold” rating and set a $201.00 price target on shares of Public Storage in a research report on Wednesday, January 31st. Jefferies Group set a $212.00 price target on shares of Public Storage and gave the stock a “hold” rating in a research report on Tuesday, November 28th. SunTrust Banks reiterated a “hold” rating and set a $200.00 price target on shares of Public Storage in a research report on Friday, October 27th. FBR & Co set a $220.00 price objective on shares of Public Storage and gave the company a “hold” rating in a report on Thursday, October 26th. Finally, B. Riley set a $220.00 price objective on shares of Public Storage and gave the company a “hold” rating in a report on Wednesday, November 15th. Eight analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Public Storage currently has a consensus rating of “Hold” and an average target price of $208.92.

In related news, insider John Reyes sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $212.24, for a total transaction of $12,734,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary E. Pruitt sold 5,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 8,350 shares of the company’s stock, valued at approximately $1,770,951.50. The disclosure for this sale can be found here. 14.42% of the stock is currently owned by insiders.

Public Storage (PSA) opened at $185.35 on Thursday. The stock has a market cap of $32,260.00, a P/E ratio of 27.10, a P/E/G ratio of 3.63 and a beta of 0.31. Public Storage has a 1-year low of $180.93 and a 1-year high of $232.21.

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Public Storage 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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