Pegasus Partners Ltd. bought a new position in Public Storage (NYSE:PSA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,040 shares of the real estate investment trust’s stock, valued at approximately $217,000.
A number of other hedge funds and other institutional investors have also modified their holdings of PSA. Cable Hill Partners LLC lifted its holdings in Public Storage by 139.9% in the third quarter. Cable Hill Partners LLC now owns 787 shares of the real estate investment trust’s stock worth $168,000 after acquiring an additional 459 shares during the last quarter. Grimes & Company Inc. bought a new position in Public Storage in the third quarter worth about $204,000. Glenview State Bank Trust DEPT. bought a new position in Public Storage in the third quarter worth about $205,000. Fisher Asset Management LLC bought a new position in Public Storage in the third quarter worth about $209,000. Finally, Parametrica Management Ltd bought a new position in Public Storage in the third quarter worth about $214,000. 80.51% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider John Reyes sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $212.24, for a total transaction of $12,734,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gary E. Pruitt sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $212.09, for a total transaction of $1,060,450.00. Following the transaction, the director now owns 8,350 shares in the company, valued at approximately $1,770,951.50. The disclosure for this sale can be found here. 14.42% of the stock is currently owned by company insiders.
A number of equities analysts have issued reports on the stock. BMO Capital Markets set a $193.00 target price on shares of Public Storage and gave the stock a “sell” rating in a report on Thursday, October 26th. Jefferies Group set a $212.00 target price on shares of Public Storage and gave the stock a “hold” rating in a report on Tuesday, November 28th. FBR & Co set a $220.00 price target on shares of Public Storage and gave the company a “hold” rating in a research note on Thursday, October 26th. Morgan Stanley lowered shares of Public Storage from an “equal weight” rating to an “underweight” rating and set a $199.00 price target on the stock. in a research note on Wednesday, December 13th. Finally, SunTrust Banks restated a “hold” rating and issued a $200.00 price target on shares of Public Storage in a research note on Friday, October 27th. Eight analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $208.92.
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About Public Storage
Public Storage is a real estate investment trust (REIT). The Company’s principal business activities include the ownership and operation of self-storage facilities, which offer storage spaces for lease, generally on a month-to-month basis, for personal and business use, ancillary activities, such as merchandise sales and tenant reinsurance to the tenants at its self-storage facilities, as well as the acquisition and development of additional self-storage space.
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