Creative Planning Acquires 2,499 Shares of Public Storage (NYSE:PSA)

Creative Planning boosted its position in Public Storage (NYSE:PSAGet Rating) by 21.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,933 shares of the real estate investment trust’s stock after buying an additional 2,499 shares during the period. Creative Planning’s holdings in Public Storage were worth $4,080,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Maltin Wealth Management Inc. raised its holdings in shares of Public Storage by 0.8% during the second quarter. Maltin Wealth Management Inc. now owns 3,849 shares of the real estate investment trust’s stock valued at $1,204,000 after purchasing an additional 32 shares during the period. Clearstead Advisors LLC grew its position in Public Storage by 13.9% in the 2nd quarter. Clearstead Advisors LLC now owns 270 shares of the real estate investment trust’s stock worth $84,000 after purchasing an additional 33 shares in the last quarter. Moors & Cabot Inc. grew its position in Public Storage by 3.3% in the 2nd quarter. Moors & Cabot Inc. now owns 1,073 shares of the real estate investment trust’s stock worth $335,000 after purchasing an additional 34 shares in the last quarter. Symphony Financial Ltd. Co. grew its position in shares of Public Storage by 1.3% during the 3rd quarter. Symphony Financial Ltd. Co. now owns 2,708 shares of the real estate investment trust’s stock valued at $778,000 after acquiring an additional 34 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC grew its position in shares of Public Storage by 0.6% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 6,104 shares of the real estate investment trust’s stock valued at $1,909,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 77.88% of the company’s stock.

Insider Transactions at Public Storage

In other Public Storage news, CEO Joseph D. Russell, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The shares were bought at an average price of $297.65 per share, for a total transaction of $744,125.00. Following the transaction, the chief executive officer now directly owns 45,982 shares in the company, valued at $13,686,542.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is currently owned by insiders.

Public Storage Stock Performance

NYSE PSA opened at $293.81 on Wednesday. Public Storage has a 1 year low of $270.13 and a 1 year high of $421.76. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $51.60 billion, a PE ratio of 11.94, a P/E/G ratio of 2.26 and a beta of 0.39. The company’s 50 day simple moving average is $289.40 and its two-hundred day simple moving average is $305.47.

Analyst Ratings Changes

PSA has been the subject of a number of research reports. StockNews.com initiated coverage on shares of Public Storage in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Raymond James downgraded shares of Public Storage from an “outperform” rating to a “market perform” rating in a research report on Monday, January 9th. Finally, Morgan Stanley dropped their price target on shares of Public Storage from $298.00 to $290.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 13th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $368.91.

Public Storage Company Profile

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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. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020.

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

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