Envestnet Asset Management Inc. Has $49.13 Million Stock Holdings in Public Storage $PSA

Envestnet Asset Management Inc. grew its holdings in shares of Public Storage (NYSE:PSA) by 1.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 170,072 shares of the real estate investment trust’s stock after acquiring an additional 2,098 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of Public Storage worth $49,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Asset Planning Inc. acquired a new position in shares of Public Storage in the 2nd quarter worth approximately $25,000. First Pacific Financial bought a new position in Public Storage during the third quarter worth $26,000. Asset Dedication LLC lifted its holdings in Public Storage by 111.1% in the second quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 50 shares during the period. NewSquare Capital LLC boosted its position in Public Storage by 60.6% during the second quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 40 shares during the last quarter. Finally, Tradewinds Capital Management LLC bought a new position in shares of Public Storage in the 3rd quarter worth about $33,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Public Storage from $332.00 to $321.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Public Storage in a research note on Thursday, January 22nd. Bank of America cut shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 price objective on the stock. in a research report on Thursday, February 5th. Wall Street Zen downgraded Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Finally, Wells Fargo & Company downgraded Public Storage from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $330.00 to $295.00 in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Public Storage has a consensus rating of “Hold” and an average price target of $306.63.

Public Storage Stock Performance

Shares of PSA opened at $288.97 on Tuesday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.99. The company has a market capitalization of $50.70 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 9.72 and a beta of 1.01. The stock has a 50 day moving average of $273.65 and a 200 day moving average of $281.77. Public Storage has a 12 month low of $256.54 and a 12 month high of $322.49.

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.