Caprock Group LLC Buys New Shares in Public Storage $PSA

Caprock Group LLC acquired a new position in shares of Public Storage (NYSE:PSAFree Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,883 shares of the real estate investment trust’s stock, valued at approximately $1,144,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Empowered Funds LLC lifted its position in shares of Public Storage by 13.3% in the first quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after buying an additional 373 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Public Storage in the 2nd quarter valued at about $929,000. Axxcess Wealth Management LLC boosted its holdings in shares of Public Storage by 37.0% during the second quarter. Axxcess Wealth Management LLC now owns 2,727 shares of the real estate investment trust’s stock worth $800,000 after acquiring an additional 736 shares during the period. Sagespring Wealth Partners LLC grew its position in shares of Public Storage by 5.7% in the second quarter. Sagespring Wealth Partners LLC now owns 1,345 shares of the real estate investment trust’s stock valued at $395,000 after purchasing an additional 72 shares during the last quarter. Finally, Bayforest Capital Ltd increased its stake in shares of Public Storage by 20.9% during the second quarter. Bayforest Capital Ltd now owns 410 shares of the real estate investment trust’s stock worth $120,000 after purchasing an additional 71 shares during the period. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Bank of America downgraded Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 target price for the company. in a report on Thursday, February 5th. The Goldman Sachs Group decreased 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. UBS Group dropped their price target on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Morgan Stanley started coverage on Public Storage in a research report on Friday, December 5th. They set an “equal weight” rating and a $290.00 price target on the stock. Finally, Wall Street Zen lowered Public Storage from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $306.63.

View Our Latest Analysis on PSA

Public Storage Trading Up 2.8%

Shares of PSA stock opened at $300.55 on Friday. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $322.49. The stock’s fifty day moving average price is $275.29 and its two-hundred day moving average price is $282.00. 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 company has a market cap of $52.73 billion, a PE ratio of 33.32, a P/E/G ratio of 10.18 and a beta of 1.01.

Key Public Storage News

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

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.

Further Reading

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

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