AlphaQuest LLC Reduces Stake in Public Storage $PSA

AlphaQuest LLC decreased its position in shares of Public Storage (NYSE:PSA) by 73.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,463 shares of the real estate investment trust’s stock after selling 3,949 shares during the quarter. AlphaQuest LLC’s holdings in Public Storage were worth $423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Empowered Funds LLC boosted its stake in Public Storage by 13.3% in the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock worth $954,000 after purchasing an additional 373 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Public Storage in the second quarter worth about $929,000. Ameritas Advisory Services LLC bought a new position in shares of Public Storage in the second quarter valued at approximately $126,000. DAVENPORT & Co LLC grew its stake in Public Storage by 4.2% during the second quarter. DAVENPORT & Co LLC now owns 2,709 shares of the real estate investment trust’s stock valued at $795,000 after acquiring an additional 110 shares in the last quarter. Finally, Clear Creek Financial Management LLC bought a new stake in Public Storage during the 2nd quarter worth approximately $342,000. 78.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of recent analyst reports. Mizuho reduced their price target on shares of Public Storage from $310.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, December 5th. Evercore reduced their target price on Public Storage from $309.00 to $305.00 in a research report on Monday, January 12th. Wells Fargo & Company cut Public Storage from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $330.00 to $295.00 in a report on Thursday. BMO Capital Markets dropped their price target on Public Storage from $320.00 to $305.00 and set a “market perform” rating for the company in a research report on Monday, December 22nd. Finally, BNP Paribas Exane decreased their price objective on shares of Public Storage from $329.00 to $315.00 in a research report on Tuesday, December 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $306.63.

Public Storage Stock Performance

Shares of PSA stock opened at $287.05 on Friday. The firm has a market capitalization of $50.37 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 7.36 and a beta of 1.01. The stock has a fifty day moving average of $273.30 and a 200 day moving average of $281.88. Public Storage has a 52 week low of $256.54 and a 52 week high of $322.49. 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 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.