Lincoln National Corp Has $905,000 Holdings in Public Storage (NYSE:PSA)

Lincoln National Corp lifted its position in shares of Public Storage (NYSE:PSA – Get Rating) by 9.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,091 shares of the real estate investment trust’s stock after purchasing an additional 269 shares during the quarter. Lincoln National Corp’s holdings in Public Storage were worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Private Ocean LLC bought a new position in shares of Public Storage during the 3rd quarter worth approximately $31,000. Ronald Blue Trust Inc. bought a new position in shares of Public Storage during the 2nd quarter worth approximately $37,000. American National Bank lifted its position in shares of Public Storage by 75.0% during the 3rd quarter. American National Bank now owns 147 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 63 shares during the period. Northern Oak Wealth Management Inc. lifted its position in shares of Public Storage by 161.3% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 162 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 100 shares during the period. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Public Storage by 116.5% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 223 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 77.88% of the company’s stock.

Public Storage Trading Up 1.0 %

PSA stock opened at $293.81 on Wednesday. The company has a market cap of $51.60 billion, a P/E ratio of 11.94, a PEG ratio of 2.26 and a beta of 0.39. Public Storage has a twelve month low of $270.13 and a twelve month high of $421.76. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.17. The business has a fifty day moving average of $289.40 and a 200-day moving average of $305.47.

Insider Buying and Selling

In related news, CEO Joseph D. Russell, Jr. acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The stock was acquired at an average cost of $297.65 per share, with a total value of $744,125.00. Following the completion of the purchase, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 11.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PSA shares. StockNews.com started coverage on Public Storage in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Raymond James downgraded Public Storage from an “outperform” rating to a “market perform” rating in a research report on Monday, January 9th. Finally, Morgan Stanley cut their price objective on Public Storage from $298.00 to $290.00 and set an “equal weight” rating for the company in a research report on Thursday, October 13th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $368.91.

About Public Storage

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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.