Candriam Luxembourg S.C.A. raised its stake in Public Storage (NYSE:PSA) by 7.2% during the 4th quarter, Holdings Channel reports. The firm owned 12,816 shares of the real estate investment trust’s stock after buying an additional 856 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Public Storage were worth $2,679,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of PSA. Cable Hill Partners LLC grew its stake in Public Storage by 139.9% in the third quarter. Cable Hill Partners LLC now owns 787 shares of the real estate investment trust’s stock valued at $168,000 after purchasing an additional 459 shares during the last quarter. Grimes & Company Inc. purchased a new stake in shares of Public Storage during the third quarter worth about $204,000. Glenview State Bank Trust DEPT. purchased a new stake in shares of Public Storage during the third quarter worth about $205,000. Fisher Asset Management LLC purchased a new stake in shares of Public Storage during the third quarter worth about $209,000. Finally, Parametrica Management Ltd purchased a new stake in shares of Public Storage during the third quarter worth about $214,000. Institutional investors own 80.51% of the company’s stock.
Shares of Public Storage (PSA) opened at $188.75 on Monday. Public Storage has a twelve month low of $180.48 and a twelve month high of $232.21. The company has a market capitalization of $32,850.24, a PE ratio of 27.55, a P/E/G ratio of 3.71 and a beta of 0.31.
In related news, Director Gary E. Pruitt sold 5,000 shares of Public Storage stock in a transaction dated Thursday, December 14th. The stock was 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 $1,770,951.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Reyes sold 60,000 shares of Public Storage stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $212.24, for a total value of $12,734,400.00. The disclosure for this sale can be found here. Insiders own 14.42% of the company’s stock.
A number of brokerages have recently weighed in on PSA. Robert W. Baird lowered Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 price target on the stock. in a research note on Tuesday, November 28th. B. Riley set a $220.00 price target on Public Storage and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Bank of America lowered Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 price target on the stock. in a research note on Monday, December 4th. They noted that the move was a valuation call. Morgan Stanley lowered Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price target on the stock. in a research note on Wednesday, December 13th. Finally, BMO Capital Markets set a $193.00 price target on Public Storage and gave the stock a “sell” rating in a research note on Thursday, October 26th. Eight research analysts have rated the stock with a sell rating, six have issued 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.
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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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