Asset Planning Inc Makes New Investment in Public Storage (NYSE:PSA)

Asset Planning Inc purchased a new stake in shares of Public Storage (NYSE:PSA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 984 shares of the real estate investment trust's stock, valued at approximately $295,000.

Other hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Public Storage by 732.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust's stock worth $561,763,000 after buying an additional 1,358,493 shares during the last quarter. Adelante Capital Management LLC increased its stake in shares of Public Storage by 389.9% during the 3rd quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust's stock worth $532,465,000 after purchasing an additional 1,164,630 shares during the last quarter. FMR LLC raised its holdings in shares of Public Storage by 20.9% in the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust's stock worth $1,828,763,000 after purchasing an additional 869,066 shares during the period. Daiwa Securities Group Inc. lifted its stake in Public Storage by 57.3% in the third quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust's stock valued at $405,278,000 after purchasing an additional 405,847 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Public Storage by 80.0% during the third quarter. BNP Paribas Financial Markets now owns 218,867 shares of the real estate investment trust's stock valued at $79,639,000 after purchasing an additional 97,302 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Public Storage Price Performance

Shares of Public Storage stock traded down $0.63 during trading on Tuesday, hitting $296.77. 556,618 shares of the stock traded hands, compared to its average volume of 641,259. The firm's fifty day moving average is $299.87 and its 200-day moving average is $325.85. The stock has a market cap of $51.97 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 4.88 and a beta of 0.74. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the company's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares of the company's stock, valued at approximately $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.00% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on PSA shares. Wells Fargo & Company lowered their target price on Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Truist Financial upped their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a report on Thursday, December 5th. Barclays reduced their target price on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. Royal Bank of Canada dropped their price target on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and lifted their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $344.54.

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. At December 31, 2023, we had: (i) interests in 3,044 self-storage facilities located in 40 states with approximately 218 million net rentable square feet in the United States and (ii) a 35% common equity interest in Shurgard Self Storage Limited (Euronext Brussels: SHUR), which owned 275 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.