BlackRock Inc. Raises Holdings in Public Storage (PSA)

BlackRock Inc. raised its stake in Public Storage (NYSE:PSA) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,205,032 shares of the real estate investment trust’s stock after acquiring an additional 312,682 shares during the period. BlackRock Inc. owned 8.74% of Public Storage worth $3,177,851,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PSA. Cable Hill Partners LLC boosted 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 acquiring an additional 459 shares during the period. Advisory Services Network LLC boosted its stake in Public Storage by 184.6% in the fourth quarter. Advisory Services Network LLC now owns 942 shares of the real estate investment trust’s stock valued at $197,000 after acquiring an additional 611 shares during the period. Grimes & Company Inc. acquired a new position in Public Storage in the third quarter valued at approximately $204,000. Glenview State Bank Trust DEPT. acquired a new position in Public Storage in the third quarter valued at approximately $205,000. Finally, Fisher Asset Management LLC acquired a new position in Public Storage in the third quarter valued at approximately $209,000. Institutional investors own 80.51% of the company’s stock.

In related news, Director Gary E. Pruitt sold 5,000 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 8,350 shares of the company’s stock, valued at $1,770,951.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Reyes sold 60,000 shares of the business’s stock in a transaction that occurred on 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 equities analysts have commented on PSA shares. B. Riley restated a “neutral” rating on shares of Public Storage in a research note on Wednesday, November 1st. Bank of America downgraded Public Storage from a “neutral” rating to an “underperform” rating and set a $212.00 target price for the company. in a research note on Monday, December 4th. They noted that the move was a valuation call. Zacks Investment Research downgraded Public Storage from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Barclays reiterated a “hold” rating and set a $207.00 price objective on shares of Public Storage in a research report on Thursday, October 19th. Finally, Robert W. Baird downgraded Public Storage from a “neutral” rating to an “underperform” rating and set a $205.00 price objective for the company. in a research report on Tuesday, November 28th. Eight analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $208.92.

Public Storage (PSA) opened at $190.48 on Friday. The stock has a market capitalization of $32,507.38, a P/E ratio of 18.85, a PEG ratio of 3.67 and a beta of 0.31. Public Storage has a 52-week low of $180.48 and a 52-week high of $232.21.

TRADEMARK VIOLATION NOTICE: This article was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://ledgergazette.com/2018/02/16/blackrock-inc-raises-holdings-in-public-storage-psa.html.

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.

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.

Leave a Reply