C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $1.27 Million in Public Storage (NYSE:PSA)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of Public Storage (NYSE:PSA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,233 shares of the real estate investment trust's stock, valued at approximately $1,268,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSA. Quent Capital LLC increased its holdings in shares of 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 acquiring an additional 50 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Public Storage during the 3rd quarter worth $34,000. Ashton Thomas Securities LLC bought a new position in Public Storage during the 3rd quarter worth $38,000. Synergy Asset Management LLC acquired a new position in Public Storage during the 4th quarter worth $38,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Public Storage during the 3rd quarter worth $55,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

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 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 quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. 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.

Analysts Set New Price Targets

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

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated 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 directly owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 11.00% of the stock is owned by corporate insiders.

Public Storage Profile

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.