Cibc World Market Inc. Purchases 57,290 Shares of Public Storage (NYSE:PSA)

Cibc World Market Inc. raised its holdings in Public Storage (NYSE:PSA - Free Report) by 451.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,967 shares of the real estate investment trust's stock after purchasing an additional 57,290 shares during the period. Cibc World Market Inc.'s holdings in Public Storage were worth $20,951,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PSA. Capital Investment Advisors LLC increased its position in shares of Public Storage by 25.4% in the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust's stock worth $8,566,000 after purchasing an additional 5,793 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Public Storage by 1.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust's stock worth $51,762,000 after buying an additional 2,605 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Public Storage by 114.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust's stock valued at $33,302,000 after buying an additional 48,803 shares during the period. Larson Financial Group LLC raised its position in shares of Public Storage by 3,714.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust's stock valued at $666,000 after buying an additional 1,783 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Public Storage by 4.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 72,741 shares of the real estate investment trust's stock worth $26,468,000 after acquiring an additional 2,832 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 450 shares of the business'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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 11.00% of the company's stock.

Wall Street Analysts Forecast Growth

PSA has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their price objective 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. Truist Financial boosted their price target on Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. Wells Fargo & Company dropped their price objective on Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Evercore ISI decreased their target price on Public Storage from $343.00 to $338.00 and set an "in-line" rating on the stock in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and increased their target price for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Seven investment 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 company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $344.54.

Public Storage Trading Up 0.2 %

NYSE PSA traded up $0.45 during trading hours on Friday, reaching $298.50. The company's stock had a trading volume of 734,333 shares, compared to its average volume of 647,330. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $52.27 billion, a P/E ratio of 31.00, a P/E/G ratio of 4.74 and a beta of 0.74. The firm has a fifty day simple moving average of $309.06 and a 200-day simple moving average of $325.60.

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.