Varma Mutual Pension Insurance Co Has $9.56 Million Holdings in Public Storage $PSA

Varma Mutual Pension Insurance Co increased its stake in Public Storage (NYSE:PSAFree Report) by 8.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,098 shares of the real estate investment trust’s stock after acquiring an additional 2,600 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Public Storage were worth $9,560,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSA. Patrick M Sweeney & Associates Inc. boosted its position in shares of Public Storage by 3.5% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,070 shares of the real estate investment trust’s stock worth $317,000 after purchasing an additional 36 shares in the last quarter. CoreCap Advisors LLC raised its stake in Public Storage by 7.0% during the 3rd quarter. CoreCap Advisors LLC now owns 568 shares of the real estate investment trust’s stock worth $164,000 after buying an additional 37 shares during the period. Evermay Wealth Management LLC boosted its holdings in Public Storage by 13.3% in the second quarter. Evermay Wealth Management LLC now owns 324 shares of the real estate investment trust’s stock worth $95,000 after acquiring an additional 38 shares in the last quarter. KCM Investment Advisors LLC grew its stake in Public Storage by 2.9% in the second quarter. KCM Investment Advisors LLC now owns 1,349 shares of the real estate investment trust’s stock valued at $396,000 after acquiring an additional 38 shares during the period. Finally, Cape ANN Savings Bank increased its stake in Public Storage by 1.4% during the 3rd quarter. Cape ANN Savings Bank now owns 2,793 shares of the real estate investment trust’s stock valued at $807,000 after purchasing an additional 38 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PSA has been the topic of a number of analyst reports. Morgan Stanley started coverage on shares of Public Storage in a report on Friday, December 5th. They issued an “equal weight” rating and a $290.00 target price on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $301.00 target price (down previously from $316.00) on shares of Public Storage in a report on Thursday, December 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft cut Public Storage from a “buy” rating to a “hold” rating and set a $285.00 price objective on the stock. in a research note on Tuesday, January 20th. Finally, Truist Financial boosted their price target on shares of Public Storage from $315.00 to $317.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $306.63.

Read Our Latest Stock Analysis on Public Storage

Public Storage Stock Performance

Shares of PSA stock opened at $300.55 on Friday. 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 $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. Public Storage has a 52 week low of $256.54 and a 52 week high of $322.49. The firm’s 50-day simple moving average is $275.29 and its two-hundred day simple moving average is $282.08.

Public Storage News Summary

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

About Public Storage

(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.

Further Reading

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

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