Jones Financial Companies Lllp Raises Stock Position in Public Storage $PSA

Jones Financial Companies Lllp lifted its stake in Public Storage (NYSE:PSA) by 19.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,094 shares of the real estate investment trust’s stock after buying an additional 6,814 shares during the period. Jones Financial Companies Lllp’s holdings in Public Storage were worth $11,766,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Empowered Funds LLC grew its holdings in shares of Public Storage by 13.3% during the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after purchasing an additional 373 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Public Storage in the 2nd quarter valued at about $929,000. Ameritas Advisory Services LLC acquired a new stake in shares of Public Storage in the 2nd quarter valued at about $126,000. DAVENPORT & Co LLC grew its stake in Public Storage by 4.2% during the 2nd quarter. DAVENPORT & Co LLC now owns 2,709 shares of the real estate investment trust’s stock worth $795,000 after buying an additional 110 shares during the last quarter. Finally, Tyche Wealth Partners LLC increased its position in Public Storage by 26.8% during the second quarter. Tyche Wealth Partners LLC now owns 976 shares of the real estate investment trust’s stock worth $286,000 after buying an additional 206 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSA has been the subject of several research analyst reports. UBS Group decreased their price objective on Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. The Goldman Sachs Group reduced their price target on shares of Public Storage from $332.00 to $321.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Truist Financial raised their price objective on shares of Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Barclays set a $331.00 target price on shares of Public Storage in a report on Tuesday, January 13th. Finally, Wells Fargo & Company raised their price target on Public Storage from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $313.19.

Public Storage Stock Up 3.2%

Shares of Public Storage stock opened at $288.62 on Thursday. Public Storage has a one year low of $256.54 and a one year high of $322.49. The company has a market cap of $50.64 billion, a P/E ratio of 29.97, a PEG ratio of 7.28 and a beta of 1.01. 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 fifty day moving average of $272.88 and a two-hundred day moving average of $281.86.

Public Storage Company Profile

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.