Cullen Capital Management LLC Sells 2,270 Shares of Public Storage $PSA

Cullen Capital Management LLC decreased its position in shares of Public Storage (NYSE:PSA) by 75.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 721 shares of the real estate investment trust’s stock after selling 2,270 shares during the quarter. Cullen Capital Management LLC’s holdings in Public Storage were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC increased its stake in Public Storage by 13.3% during the 1st quarter. Empowered Funds LLC now owns 3,186 shares of the real estate investment trust’s stock valued at $954,000 after purchasing an additional 373 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Public Storage during the second quarter valued at about $929,000. Ameritas Advisory Services LLC acquired a new stake in shares of Public Storage in the 2nd quarter worth about $126,000. DAVENPORT & Co LLC lifted its position in Public Storage by 4.2% in the 2nd 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, Shell Asset Management Co. lifted its position in Public Storage by 120.8% in the 2nd quarter. Shell Asset Management Co. now owns 7,740 shares of the real estate investment trust’s stock valued at $2,271,000 after acquiring an additional 4,235 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Down 1.9%

NYSE PSA opened at $283.07 on Friday. The stock has a market capitalization of $49.67 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 7.51 and a beta of 1.01. Public Storage has a one year low of $256.54 and a one year high of $322.49. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.45 and a quick ratio of 0.45. The business’s fifty day moving average is $273.05 and its 200-day moving average is $281.86.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Public Storage in a research note on Thursday, January 22nd. Raymond James Financial lowered their price target on Public Storage from $350.00 to $330.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 18th. Wolfe Research downgraded shares of Public Storage from an “outperform” rating to a “peer perform” rating in a report on Monday, January 26th. Morgan Stanley began coverage on shares of Public Storage in a research note on Friday, December 5th. They issued an “equal weight” rating and a $290.00 target price for the company. Finally, Wells Fargo & Company lowered shares of Public Storage from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $330.00 to $295.00 in a research report on Thursday. Two 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.com, Public Storage has an average rating of “Hold” and an average target price of $306.63.

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.