California Public Employees Retirement System Boosts Stake in Public Storage (PSA)

California Public Employees Retirement System lifted its stake in Public Storage (NYSE:PSA) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 413,199 shares of the real estate investment trust’s stock after acquiring an additional 49,639 shares during the quarter. California Public Employees Retirement System’s holdings in Public Storage were worth $86,359,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PGGM Investments increased its stake in shares of Public Storage by 0.8% in the third quarter. PGGM Investments now owns 1,486,414 shares of the real estate investment trust’s stock worth $318,078,000 after acquiring an additional 11,472 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Public Storage by 3.5% in the third quarter. Pictet Asset Management Ltd. now owns 103,907 shares of the real estate investment trust’s stock worth $22,235,000 after acquiring an additional 3,480 shares during the last quarter. Brookfield Asset Management Inc. increased its stake in shares of Public Storage by 25.8% in the second quarter. Brookfield Asset Management Inc. now owns 727,314 shares of the real estate investment trust’s stock worth $151,667,000 after acquiring an additional 149,004 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Public Storage in the second quarter worth $2,358,000. Finally, Forsta AP Fonden boosted its holdings in Public Storage by 32.2% in the third quarter. Forsta AP Fonden now owns 60,800 shares of the real estate investment trust’s stock worth $13,011,000 after purchasing an additional 14,800 shares in the last quarter. 80.79% of the stock is currently owned by institutional investors and hedge funds.

Shares of Public Storage (PSA) opened at $187.16 on Friday. Public Storage has a fifty-two week low of $180.48 and a fifty-two week high of $232.21. The stock has a market cap of $33,780.00, a PE ratio of 27.36, a price-to-earnings-growth ratio of 3.55 and a beta of 0.31.

In other Public Storage news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary E. Pruitt sold 5,000 shares of the 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 sale, 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 owned by corporate insiders.

PSA has been the subject of a number of recent research reports. Morgan Stanley cut shares of Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price objective for the company. in a report on Wednesday, December 13th. B. Riley set a $220.00 price objective on shares of Public Storage and gave the stock a “hold” rating in a report on Wednesday, November 15th. SunTrust Banks reiterated a “hold” rating and issued a $200.00 price objective on shares of Public Storage in a report on Friday, October 27th. Robert W. Baird cut shares of Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 price objective for the company. in a report on Tuesday, November 28th. Finally, Zacks Investment Research cut shares of Public Storage from a “hold” rating to a “sell” rating in a report on Wednesday, January 24th. 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 company’s stock. The stock has a consensus rating of “Hold” and an average price target of $208.92.

ILLEGAL ACTIVITY NOTICE: “California Public Employees Retirement System Boosts Stake in Public Storage (PSA)” was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this report on another website, it was illegally copied and reposted in violation of United States and international trademark & copyright laws. The legal version of this report can be read at https://sportsperspectives.com/2018/02/11/california-public-employees-retirement-system-boosts-stake-in-public-storage-psa.html.

About Public Storage

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.

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA).

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

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply