CNB Bank Invests $42,000 in Public Storage (PSA) Stock

CNB Bank acquired a new stake in Public Storage (NYSE:PSA) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 208 shares of the real estate investment trust’s stock, valued at approximately $42,000.

A number of other hedge funds have also made changes to their positions in the business. Oregon Public Employees Retirement Fund boosted its position in shares of Public Storage by 18,823.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,180,090 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 7,142,148 shares in the last quarter. Matthew Goff Investment Advisor LLC bought a new position in shares of Public Storage during the third quarter worth $97,000. TLP Group LLC bought a new position in shares of Public Storage during the third quarter worth $124,000. Sound Income Strategies LLC boosted its position in shares of Public Storage by 29.0% during the fourth quarter. Sound Income Strategies LLC now owns 645 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 145 shares in the last quarter. Finally, Columbia Asset Management bought a new position in shares of Public Storage during the third quarter worth $155,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently commented on PSA. Zacks Investment Research upgraded shares of Public Storage from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Barclays restated a “hold” rating and set a $212.00 price objective on shares of Public Storage in a report on Tuesday, February 5th. Finally, Jefferies Financial Group lowered shares of Public Storage from a “hold” rating to an “underperform” rating and lowered their price target for the company from $202.00 to $175.00 in a research note on Thursday, December 13th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Public Storage presently has a consensus rating of “Hold” and a consensus target price of $203.92.

In other news, SVP Lily Yan Hughes sold 15,000 shares of the business’s stock in a transaction dated Tuesday, December 11th. The shares were sold at an average price of $212.14, for a total transaction of $3,182,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 14.00% of the stock is owned by insiders.

Shares of PSA stock opened at $207.74 on Wednesday. The firm has a market capitalization of $36.72 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 4.08 and a beta of 0.30. Public Storage has a 1 year low of $184.69 and a 1 year high of $234.90. The company has a current ratio of 1.05, a quick ratio of 1.06 and a debt-to-equity ratio of 0.29.

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Public Storage Profile

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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Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSA).

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

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