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Mutual funds are bullish on storage and property REITs, even as equity markets go through a new year’s slump.
In Q4, 60 top funds picked up $282M of stock in Public Storage alone, topping five other property REITs, including Extra Space Storage, Equity Lifestyle Properties and Store Capital.
While Public Storage hasn't shown great growth, the storage business tends to hold up better than most in a weak economy, Investors Business Daily Reports.
Another bullish sign for Public Storage is tight closes for the past five weeks, meaning institutional investors likely added to their positions while the rest of the market sold off. [IBD]
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