M&T Bank Corp reduced its stake in Public Storage (NYSE:PSA) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,637 shares of the real estate investment trust’s stock after selling 1,008 shares during the period. M&T Bank Corp’s holdings in Public Storage were worth $2,963,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of PSA. FMR LLC raised its holdings in Public Storage by 19.9% in the 2nd quarter. FMR LLC now owns 6,736,465 shares of the real estate investment trust’s stock valued at $1,528,235,000 after buying an additional 1,116,634 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in Public Storage by 302.9% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 897,708 shares of the real estate investment trust’s stock valued at $181,004,000 after buying an additional 674,908 shares during the period. Renaissance Technologies LLC raised its holdings in Public Storage by 50.4% in the 3rd quarter. Renaissance Technologies LLC now owns 1,077,100 shares of the real estate investment trust’s stock valued at $217,176,000 after buying an additional 360,800 shares during the period. BlackRock Inc. raised its holdings in Public Storage by 1.9% in the 3rd quarter. BlackRock Inc. now owns 15,674,301 shares of the real estate investment trust’s stock valued at $3,160,411,000 after buying an additional 290,505 shares during the period. Finally, Glenmede Trust Co. NA raised its holdings in Public Storage by 426.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 219,921 shares of the real estate investment trust’s stock valued at $44,342,000 after buying an additional 178,169 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.
In other news, SVP Lily Yan Hughes sold 15,000 shares of the business’s stock in a transaction dated Tuesday, December 11th. The stock was sold at an average price of $212.14, for a total transaction of $3,182,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 14.00% of the stock is owned by corporate insiders.
Several analysts recently issued reports on PSA shares. Jefferies Financial Group lowered shares of Public Storage from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $202.00 to $175.00 in a report on Thursday, December 13th. Zacks Investment Research lowered shares of Public Storage from a “hold” rating to a “sell” rating in a research note on Wednesday, November 14th. Finally, Barclays reiterated a “hold” rating and set a $212.00 price target on shares of Public Storage in a research note on Tuesday, February 5th. Seven analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Public Storage currently has a consensus rating of “Hold” and a consensus price target of $203.92.
Shares of NYSE:PSA opened at $210.57 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.06 and a current ratio of 1.05. The stock has a market cap of $36.72 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 4.08 and a beta of 0.30. Public Storage has a 1 year low of $180.71 and a 1 year high of $234.90.
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. The Company's headquarters are located in Glendale, California. At September 30, 2018, we had interests in 2,418 self-storage facilities located in 38 states with approximately 161 million net rentable square feet in the United States and 228 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the ?Shurgard? brand.
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