Asset Management One Co. Ltd. Purchases 1,606 Shares of Public Storage (NYSE:PSA)

Asset Management One Co. Ltd. raised its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 306,974 shares of the real estate investment trust's stock after acquiring an additional 1,606 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.18% of Public Storage worth $91,509,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PSA. Quent Capital LLC increased its stake in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 50 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Public Storage in the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage in the third quarter valued at about $38,000. Synergy Asset Management LLC bought a new stake in Public Storage during the fourth quarter worth about $38,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Public Storage during the third quarter valued at approximately $55,000. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Performance

Shares of NYSE:PSA traded down $3.55 during trading on Monday, reaching $297.69. 398,801 shares of the stock were exchanged, compared to its average volume of 690,775. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The firm has a market cap of $52.13 billion, a PE ratio of 30.91, a PEG ratio of 4.88 and a beta of 0.74. The stock has a 50-day moving average price of $300.63 and a 200-day moving average price of $325.86. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Analyst Upgrades and Downgrades

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

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business's stock in a transaction dated 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 $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 11.00% of the stock is currently owned by corporate insiders.

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.