ING Groep NV Buys 9,639 Shares of Public Storage $PSA

ING Groep NV boosted its position in shares of Public Storage (NYSE:PSAFree Report) by 1,243.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,414 shares of the real estate investment trust’s stock after purchasing an additional 9,639 shares during the quarter. ING Groep NV’s holdings in Public Storage were worth $3,008,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Krilogy Financial LLC acquired a new position in shares of Public Storage during the third quarter valued at $711,000. Advisors Asset Management Inc. increased its position in Public Storage by 35.9% in the third quarter. Advisors Asset Management Inc. now owns 14,158 shares of the real estate investment trust’s stock worth $4,090,000 after purchasing an additional 3,741 shares during the period. Stratos Wealth Partners LTD. raised its holdings in Public Storage by 20.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,207 shares of the real estate investment trust’s stock worth $927,000 after purchasing an additional 553 shares during the last quarter. Edgemoor Investment Advisors Inc. raised its holdings in Public Storage by 1.0% during the 3rd quarter. Edgemoor Investment Advisors Inc. now owns 28,496 shares of the real estate investment trust’s stock worth $8,231,000 after purchasing an additional 286 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in Public Storage by 0.3% during the 3rd quarter. ProShare Advisors LLC now owns 32,667 shares of the real estate investment trust’s stock valued at $9,436,000 after purchasing an additional 82 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage News Roundup

Here are the key news stories impacting Public Storage this week:

Public Storage Trading Up 2.8%

PSA opened at $300.55 on Friday. The firm’s fifty day moving average is $275.29 and its two-hundred day moving average is $282.08. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.45 and a current ratio of 0.45. The firm has a market cap of $52.74 billion, a PE ratio of 33.32, a price-to-earnings-growth ratio of 9.91 and a beta of 1.01. Public Storage has a twelve month low of $256.54 and a twelve month high of $322.49.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Mizuho lowered their price target on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. The Goldman Sachs Group reduced their price objective on shares of Public Storage from $332.00 to $321.00 and set a “buy” rating on the stock in a research note on Thursday, January 15th. BMO Capital Markets lowered their target price on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a report on Monday, December 22nd. Evercore dropped their target price on shares of Public Storage from $309.00 to $305.00 in a research report on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Public Storage in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Public Storage currently has an average rating of “Hold” and a consensus target price of $306.63.

View Our Latest Analysis on Public Storage

About Public Storage

(Free Report)

Public Storage (NYSE: PSA) is a real estate investment trust (REIT) that specializes in self-storage services. Headquartered in Glendale, California, the company was founded in the early 1970s and has grown through development and acquisitions to become one of the largest owner-operators of self-storage facilities in the United States. It is publicly traded on the New York Stock Exchange under the ticker PSA.

The company’s core business is the ownership, operation and management of self-storage properties that serve both residential and commercial customers.

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

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