Resources Investment Advisors LLC. boosted its stake in Public Storage (NYSE:PSA – Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,066 shares of the real estate investment trust’s stock after purchasing an additional 38 shares during the quarter. Resources Investment Advisors LLC.’s holdings in Public Storage were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in shares of Public Storage by 17.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 5,396 shares of the real estate investment trust’s stock worth $1,630,000 after acquiring an additional 819 shares during the period. Hollencrest Capital Management bought a new position in Public Storage during the fourth quarter valued at $28,000. Lindbrook Capital LLC grew its holdings in Public Storage by 4.9% during the 1st quarter. Lindbrook Capital LLC now owns 882 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 41 shares during the last quarter. Wells Fargo & Company MN raised its position in Public Storage by 22.5% during the 4th quarter. Wells Fargo & Company MN now owns 324,205 shares of the real estate investment trust’s stock valued at $90,839,000 after purchasing an additional 59,482 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its stake in shares of Public Storage by 3.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,466 shares of the real estate investment trust’s stock valued at $745,000 after purchasing an additional 85 shares during the period. 79.05% of the stock is currently owned by hedge funds and other institutional investors.
Public Storage Stock Down 0.6 %
PSA stock opened at $273.71 on Friday. Public Storage has a 12 month low of $269.49 and a 12 month high of $350.89. The firm has a 50 day simple moving average of $286.63 and a 200 day simple moving average of $291.33. The firm has a market cap of $48.13 billion, a PE ratio of 11.85, a P/E/G ratio of 3.70 and a beta of 0.45. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.28 and a quick ratio of 1.28.
Public Storage Announces Dividend
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the stock. Bank of America started coverage on shares of Public Storage in a report on Monday, May 8th. They issued a “buy” rating for the company. StockNews.com initiated coverage on Public Storage in a research note on Wednesday. They issued a “hold” rating for the company. Truist Financial dropped their price objective on shares of Public Storage from $335.00 to $320.00 in a research note on Thursday, June 15th. Finally, JPMorgan Chase & Co. lowered their target price on Public Storage from $338.00 to $324.00 in a report on Tuesday, June 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $315.25.
Read Our Latest Report on Public Storage
About Public Storage
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, 2023, we had: (i) interests in 2,877 self-storage facilities located in 40 states with approximately 205 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels:SHUR), which owned 266 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.
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