Varma Mutual Pension Insurance Co Buys 2,600 Shares of Public Storage $PSA

Varma Mutual Pension Insurance Co boosted its stake in Public Storage (NYSE:PSAFree Report) by 8.5% in the 3rd quarter, Holdings Channel reports. The firm owned 33,098 shares of the real estate investment trust’s stock after acquiring an additional 2,600 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Public Storage were worth $9,560,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Savvy Advisors Inc. increased its holdings in shares of Public Storage by 33.7% in the 3rd quarter. Savvy Advisors Inc. now owns 2,299 shares of the real estate investment trust’s stock worth $664,000 after buying an additional 579 shares during the last quarter. Mechanics Financial Corp grew its stake in shares of Public Storage by 2.4% in the third quarter. Mechanics Financial Corp now owns 2,523 shares of the real estate investment trust’s stock worth $729,000 after purchasing an additional 60 shares during the last quarter. Cibc World Market Inc. lifted its holdings in Public Storage by 30.8% in the 3rd quarter. Cibc World Market Inc. now owns 86,952 shares of the real estate investment trust’s stock worth $25,116,000 after buying an additional 20,477 shares during the period. Caprock Group LLC purchased a new position in shares of Public Storage during the third quarter valued at approximately $1,144,000. Finally, ING Groep NV boosted its holdings in Public Storage by 1,243.7% in the third quarter. ING Groep NV now owns 10,414 shares of the real estate investment trust’s stock valued at $3,008,000 after acquiring an additional 9,639 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PSA shares. Evercore decreased their price target on shares of Public Storage from $309.00 to $305.00 in a research note on Monday, January 12th. BMO Capital Markets reduced their target price on shares of Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a research report on Monday, December 22nd. Wells Fargo & Company cut shares of Public Storage from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $330.00 to $295.00 in a research report on Thursday, February 5th. Bank of America downgraded shares of Public Storage from a “buy” rating to a “neutral” rating and set a $310.00 target price for the company. in a research note on Thursday, February 5th. Finally, Truist Financial boosted their price target on Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Public Storage presently has a consensus rating of “Hold” and an average price target of $306.63.

Check Out Our Latest Stock Analysis on Public Storage

Public Storage Price Performance

Shares of NYSE:PSA opened at $300.55 on Friday. 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 market cap of $52.74 billion, a price-to-earnings ratio of 33.32, a price-to-earnings-growth ratio of 9.91 and a beta of 1.01. The business has a 50-day simple moving average of $275.29 and a two-hundred day simple moving average of $282.08. Public Storage has a fifty-two week low of $256.54 and a fifty-two week high of $322.49.

Key Stories Impacting Public Storage

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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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