ING Groep NV Has $3.01 Million Position in Public Storage $PSA

ING Groep NV increased its holdings in Public Storage (NYSE:PSAFree Report) by 1,243.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,414 shares of the real estate investment trust’s stock after purchasing an additional 9,639 shares during the period. ING Groep NV’s holdings in Public Storage were worth $3,008,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Public Storage by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 20,815,476 shares of the real estate investment trust’s stock valued at $6,107,677,000 after purchasing an additional 79,580 shares during the period. State Street Corp lifted its position in shares of Public Storage by 1.2% during the 2nd quarter. State Street Corp now owns 10,613,807 shares of the real estate investment trust’s stock worth $3,114,303,000 after buying an additional 126,113 shares during the period. Norges Bank acquired a new stake in Public Storage in the 2nd quarter valued at $1,153,971,000. JPMorgan Chase & Co. boosted its stake in Public Storage by 3.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,157,067 shares of the real estate investment trust’s stock valued at $926,357,000 after buying an additional 103,965 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Public Storage by 3.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,924,395 shares of the real estate investment trust’s stock valued at $857,674,000 after acquiring an additional 87,918 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Public Storage stock opened at $300.55 on Friday. The stock has a 50-day simple moving average of $275.29 and a 200 day simple moving average of $282.08. The stock has a market capitalization of $52.74 billion, a price-to-earnings ratio of 33.32, a P/E/G ratio of 9.91 and a beta of 1.01. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.99. Public Storage has a 12-month low of $256.54 and a 12-month high of $322.49.

Public Storage News Roundup

Here are the key news stories impacting Public Storage this week:

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PSA. Barclays set a $331.00 price objective on Public Storage in a report on Tuesday, January 13th. BNP Paribas Exane dropped their target price on shares of Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price target for the company. in a report on Tuesday, January 20th. BMO Capital Markets decreased their price objective on shares of 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. Finally, Raymond James Financial dropped their price objective on shares of Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 18th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $306.63.

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Public Storage Company Profile

(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.

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

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