Motco Has $358,000 Stake in Public Storage (NYSE:PSA)

Motco reduced its holdings in Public Storage (NYSE:PSA) by 2.6% in the 4th quarter, Holdings Channel reports. The fund owned 1,681 shares of the real estate investment trust’s stock after selling 45 shares during the quarter. Motco’s holdings in Public Storage were worth $358,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its stake in shares of Public Storage by 12.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,782,701 shares of the real estate investment trust’s stock valued at $682,514,000 after buying an additional 311,801 shares in the last quarter. Alberta Investment Management Corp raised its holdings in shares of Public Storage by 1,865.2% in the 3rd quarter. Alberta Investment Management Corp now owns 226,000 shares of the real estate investment trust’s stock valued at $55,431,000 after purchasing an additional 214,500 shares during the period. Zimmer Partners LP bought a new stake in shares of Public Storage in the 3rd quarter valued at about $42,922,000. Victory Capital Management Inc. lifted its stake in Public Storage by 12.5% in the 4th quarter. Victory Capital Management Inc. now owns 1,118,201 shares of the real estate investment trust’s stock valued at $250,209,000 after purchasing an additional 124,464 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Public Storage in the 3rd quarter valued at about $29,702,000. Institutional investors own 79.38% of the company’s stock.

A number of equities analysts recently commented on PSA shares. Bank of America cut Public Storage from a “buy” rating to a “neutral” rating and set a $228.00 price target for the company. in a report on Tuesday, November 19th. Argus dropped their price objective on Public Storage from $290.00 to $260.00 and set a “buy” rating on the stock in a research note on Monday, December 2nd. Morgan Stanley cut their price objective on Public Storage from $240.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Zacks Investment Research upgraded Public Storage from a “hold” rating to a “buy” rating and set a $255.00 target price for the company in a research note on Friday, October 18th. Finally, Wells Fargo & Co downgraded Public Storage from a “market perform” rating to an “underperform” rating and reduced their target price for the stock from $230.00 to $202.00 in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $238.13.

Shares of Public Storage stock opened at $232.82 on Friday. The company has a 50 day moving average of $219.55 and a 200-day moving average of $231.76. Public Storage has a 1-year low of $199.53 and a 1-year high of $266.76. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.38. The company has a market cap of $39.92 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 6.10 and a beta of 0.08.

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

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