Mirae Asset Global Investments Co. Ltd. Buys 45,349 Shares of Public Storage $PSA

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Public Storage (NYSE:PSA) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 45,349 shares of the real estate investment trust’s stock, valued at approximately $12,827,000.

Other large investors also recently made changes to their positions in the company. V Square Quantitative Management LLC grew its stake in shares of Public Storage by 2.2% during the first quarter. V Square Quantitative Management LLC now owns 1,546 shares of the real estate investment trust’s stock worth $419,000 after purchasing an additional 34 shares during the period. Nilsine Partners LLC lifted its stake in Public Storage by 2.9% in the second quarter. Nilsine Partners LLC now owns 1,211 shares of the real estate investment trust’s stock valued at $385,000 after buying an additional 34 shares during the period. Aegis Wealth Management Inc. lifted its stake in Public Storage by 2.5% in the third quarter. Aegis Wealth Management Inc. now owns 1,375 shares of the real estate investment trust’s stock valued at $389,000 after buying an additional 34 shares during the period. Gryphon Financial Partners LLC lifted its stake in Public Storage by 2.6% in the first quarter. Gryphon Financial Partners LLC now owns 1,423 shares of the real estate investment trust’s stock valued at $385,000 after buying an additional 36 shares during the period. Finally, Chesapeake Capital Corp IL boosted its holdings in Public Storage by 1.3% during the second quarter. Chesapeake Capital Corp IL now owns 2,994 shares of the real estate investment trust’s stock worth $953,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Evercore set a $308.00 target price on Public Storage in a research report on Monday, September 21st. Wells Fargo & Company set a $311.00 price target on Public Storage in a research note on Tuesday, September 1st. Scotiabank cut their price target on shares of Public Storage from $346.00 to $343.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, September 2nd. Royal Bank Of Canada lifted their price objective on shares of Public Storage from $318.00 to $323.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 28th. Finally, UBS Group reissued a “neutral” rating on shares of Public Storage in a research report on Tuesday, October 27th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat, Public Storage has an average rating of “Hold” and an average target price of $323.68.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 1,414 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $327.53, for a total transaction of $463,127.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 11.10% of the stock is owned by corporate insiders.

Public Storage Stock Performance

Shares of PSA stock opened at $333.06 on Wednesday. The company’s fifty day simple moving average is $299.22 and its 200-day simple moving average is $303.28. Public Storage has a 12 month low of $256.54 and a 12 month high of $335.55. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.16. The firm has a market cap of $62.23 billion, a PE ratio of 34.88, a P/E/G ratio of 4.96 and a beta of 0.89.

Public Storage (NYSE:PSA) last announced its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $1.69 earnings per share for the quarter, missing the consensus estimate of $2.49 by ($0.80). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.34 billion. Public Storage had a net margin of 37.76% and a return on equity of 29.93%. Public Storage’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.31 EPS. Equities research analysts expect that Public Storage will post 16.97 EPS for the current fiscal year.

About Public Storage

Public Storage (NYSE: PSA) is a real estate investment trust focused on the ownership, operation and development of self-storage facilities. The company rents storage units to residential and business customers, offering solutions for household belongings, commercial inventory, records, vehicles and other personal property. Many locations provide features such as climate-controlled units, electronic access, online reservations and moving and packing supplies.

Founded in 1972, Public Storage has grown into one of the largest self-storage operators in the United States.