AlphaQuest LLC Has $423,000 Holdings in Public Storage $PSA

AlphaQuest LLC lessened its position in shares of Public Storage (NYSE:PSA) by 73.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,463 shares of the real estate investment trust’s stock after selling 3,949 shares during the period. AlphaQuest LLC’s holdings in Public Storage were worth $423,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PSA. Harbor Asset Planning Inc. acquired a new stake in Public Storage during the second quarter worth approximately $25,000. First Pacific Financial acquired a new stake in shares of Public Storage during the 3rd quarter worth approximately $26,000. Asset Dedication LLC increased its stake in shares of Public Storage by 111.1% in the 2nd quarter. Asset Dedication LLC now owns 95 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 50 shares in the last quarter. NewSquare Capital LLC increased its stake in shares of Public Storage by 60.6% in the 2nd quarter. NewSquare Capital LLC now owns 106 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 40 shares in the last quarter. Finally, Tradewinds Capital Management LLC acquired a new position in shares of Public Storage during the 3rd quarter valued at $33,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PSA shares. UBS Group dropped their price objective on shares of Public Storage from $293.00 to $276.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. BMO Capital Markets dropped their price target on Public Storage from $320.00 to $305.00 and set a “market perform” rating on the stock in a research note on Monday, December 22nd. Raymond James Financial reduced their price objective on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $301.00 target price (down from $316.00) on shares of Public Storage in a research report on Thursday, December 18th. Finally, Wolfe Research downgraded shares of Public Storage from an “outperform” rating to a “peer perform” rating in a research report on Monday, January 26th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $306.63.

Public Storage Trading Up 1.5%

NYSE:PSA opened at $287.05 on Friday. Public Storage has a 52 week low of $256.54 and a 52 week high of $322.49. The firm has a 50-day moving average price of $273.30 and a two-hundred day moving average price of $281.88. 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 $50.37 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 7.36 and a beta of 1.01.

Public Storage Profile

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.