Public Employees Retirement Association of Colorado raised its stake in shares of Public Storage (NYSE:PSA) by 0.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,792 shares of the real estate investment trust’s stock after buying an additional 46 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Public Storage were worth $6,857,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PSA. Geode Capital Management LLC lifted its stake in Public Storage by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 2,459,818 shares of the real estate investment trust’s stock worth $497,192,000 after acquiring an additional 178,705 shares during the period. Two Sigma Advisers LP acquired a new position in Public Storage during the fourth quarter worth approximately $230,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Public Storage in the first quarter valued at approximately $408,000. Retirement Systems of Alabama boosted its stake in shares of Public Storage by 1.1% in the first quarter. Retirement Systems of Alabama now owns 69,879 shares of the real estate investment trust’s stock valued at $15,218,000 after buying an additional 777 shares in the last quarter. Finally, Pennsylvania Trust Co purchased a new stake in shares of Public Storage in the first quarter valued at approximately $2,596,000. Institutional investors own 80.03% of the company’s stock.
PSA opened at $260.11 on Friday. The business’s fifty day moving average is $247.02 and its two-hundred day moving average is $228.69. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $45.09 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 6.02 and a beta of 0.17. Public Storage has a one year low of $193.89 and a one year high of $260.30.
In other Public Storage news, Chairman B Wayne Et Al Hughes sold 38,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $257.89, for a total transaction of $9,799,820.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 14.00% of the stock is currently owned by insiders.
PSA has been the topic of a number of analyst reports. Bank of America upgraded Public Storage from a “neutral” rating to a “buy” rating in a research note on Friday, July 19th. KeyCorp upgraded Public Storage from an “underweight” rating to a “sector weight” rating and set a $243.72 price target on the stock in a research note on Tuesday, June 11th. Finally, ValuEngine upgraded Public Storage from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $222.45.
Public Storage Profile
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. At March 31, 2019, we had: (i) interests in 2,444 self-storage facilities located in 38 states with approximately 164 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 231 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at March 31, 2019.
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