Conning Inc. Has $900,000 Position in Public Storage (NYSE:PSA)

Conning Inc. boosted its position in shares of Public Storage (NYSE:PSA - Free Report) by 156.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,005 shares of the real estate investment trust's stock after acquiring an additional 1,835 shares during the quarter. Conning Inc.'s holdings in Public Storage were worth $900,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Petredis Investment Advisors LLC grew its position in Public Storage by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust's stock valued at $2,497,000 after buying an additional 30 shares during the last quarter. S.A. Mason LLC lifted its holdings in Public Storage by 3.8% in the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust's stock valued at $300,000 after acquiring an additional 30 shares during the period. Haverford Trust Co lifted its holdings in Public Storage by 0.7% in the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust's stock valued at $1,558,000 after acquiring an additional 30 shares during the period. Huntington National Bank lifted its holdings in Public Storage by 5.4% in the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust's stock valued at $235,000 after acquiring an additional 33 shares during the period. Finally, Chesapeake Wealth Management lifted its holdings in Public Storage by 2.2% in the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust's stock valued at $560,000 after acquiring an additional 33 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Public Storage Trading Down 1.7 %

NYSE:PSA traded down $5.21 on Wednesday, reaching $300.13. The company's stock had a trading volume of 386,760 shares, compared to its average volume of 662,859. The firm has a market cap of $52.56 billion, a PE ratio of 31.17, a PEG ratio of 4.88 and a beta of 0.74. The business's 50-day moving average price is $302.67 and its two-hundred day moving average price is $325.89. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Insider Activity

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business's stock in a transaction that occurred 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 $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.00% of the company's stock.

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.