Bank of Jackson Hole Trust Acquires New Holdings in Public Storage (NYSE:PSA)

Bank of Jackson Hole Trust bought a new position in shares of Public Storage (NYSE:PSA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,285 shares of the real estate investment trust's stock, valued at approximately $684,000.

A number of other institutional investors also recently modified their holdings of PSA. State Street Corp grew its position in Public Storage by 0.5% in the 3rd quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust's stock worth $3,773,571,000 after purchasing an additional 55,123 shares during the last quarter. FMR LLC lifted its stake in shares of Public Storage by 20.9% in the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust's stock valued at $1,828,763,000 after buying an additional 869,066 shares during the period. Geode Capital Management LLC grew its position in Public Storage by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust's stock worth $1,425,941,000 after buying an additional 52,807 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Public Storage by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust's stock valued at $1,023,080,000 after acquiring an additional 54,992 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 valued at $561,763,000 after acquiring an additional 1,358,493 shares during the period. Institutional investors own 78.79% of the company's stock.

Public Storage Price Performance

PSA stock traded up $0.24 during midday trading on Friday, reaching $304.30. 593,161 shares of the company's stock traded hands, compared to its average volume of 628,819. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market cap of $53.29 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 4.80 and a beta of 0.74. The company has a 50-day simple moving average of $298.38 and a two-hundred day simple moving average of $325.39. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PSA. Barclays decreased their price objective on Public Storage from $380.00 to $361.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and raised their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada lowered 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 report on Friday, November 8th. Truist Financial raised their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. Finally, Wells Fargo & Company lowered their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $341.85.

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.