Handelsbanken Fonder AB Buys 10,353 Shares of Public Storage (NYSE:PSA)

Handelsbanken Fonder AB grew its holdings in Public Storage (NYSE:PSA - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,094 shares of the real estate investment trust's stock after purchasing an additional 10,353 shares during the period. Handelsbanken Fonder AB's holdings in Public Storage were worth $24,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quent Capital LLC boosted its stake 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 worth $26,000 after buying an additional 50 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Public Storage in the 3rd quarter worth $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Public Storage in the 3rd quarter worth $38,000. Synergy Asset Management LLC purchased a new position in shares of Public Storage in the 4th quarter worth $38,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage in the 3rd quarter worth $55,000. Institutional investors own 78.79% of the company's stock.

Insider Activity

In other 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 value of $143,095.50. Following the sale, the insider now directly owns 2,364 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 11.00% of the company's stock.

Public Storage Price Performance

Shares of Public Storage stock traded up $0.24 during trading hours on Friday, hitting $304.30. The company's stock had a trading volume of 593,161 shares, compared to its average volume of 628,819. The business has a 50 day moving average price of $298.38 and a two-hundred day moving average price of $325.39. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The company has a market cap of $53.29 billion, a PE ratio of 31.60, a PEG ratio of 4.80 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PSA. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and raised their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Wells Fargo & Company lowered their target price on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday. Truist Financial lifted 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. Royal Bank of Canada lowered their target price 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, Barclays lowered 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. Seven equities 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 company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.