Cigna Investments Inc. New increased its position in shares of Public Storage (NYSE:PSA) by 1.8% during the fourth quarter, Holdings Channel reports. The fund owned 4,520 shares of the real estate investment trust’s stock after buying an additional 82 shares during the quarter. Cigna Investments Inc. New’s holdings in Public Storage were worth $915,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of PSA. Oregon Public Employees Retirement Fund grew its position in Public Storage by 18,823.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,180,090 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 7,142,148 shares during the last quarter. FMR LLC grew its position in Public Storage by 19.9% during the 2nd quarter. FMR LLC now owns 6,736,465 shares of the real estate investment trust’s stock worth $1,528,235,000 after acquiring an additional 1,116,634 shares during the last quarter. Victory Capital Management Inc. grew its position in Public Storage by 25,785.5% during the 4th quarter. Victory Capital Management Inc. now owns 742,654 shares of the real estate investment trust’s stock worth $150,321,000 after acquiring an additional 739,785 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in Public Storage by 302.9% during the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 897,708 shares of the real estate investment trust’s stock worth $181,004,000 after buying an additional 674,908 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in Public Storage by 776.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 626,520 shares of the real estate investment trust’s stock worth $126,814,000 after buying an additional 555,054 shares during the period. Institutional investors and hedge funds own 84.61% of the company’s stock.
PSA has been the topic of several recent research reports. Zacks Investment Research raised Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday. Barclays reaffirmed a “hold” rating and set a $212.00 target price on shares of Public Storage in a report on Tuesday, February 5th. Finally, Jefferies Financial Group downgraded Public Storage from a “hold” rating to an “underperform” rating and cut their target price for the stock from $202.00 to $175.00 in a report on Thursday, December 13th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $203.92.
In other Public Storage news, SVP Lily Yan Hughes sold 15,000 shares of Public Storage stock in a transaction dated Tuesday, December 11th. The stock was sold at an average price of $212.14, for a total transaction of $3,182,100.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 14.00% of the stock is currently owned by insiders.
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About Public Storage
Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company's headquarters are located in Glendale, California. At September 30, 2018, we had interests in 2,418 self-storage facilities located in 38 states with approximately 161 million net rentable square feet in the United States and 228 storage facilities located in seven Western European nations with approximately 12 million net rentable square feet operated under the Shurgard brand.
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