Lecap Asset Management Ltd. Acquires Shares of 6,866 Public Storage (NYSE:PSA)

Lecap Asset Management Ltd. bought a new stake in shares of Public Storage (NYSE:PSA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,866 shares of the real estate investment trust's stock, valued at approximately $2,056,000.

Several other large investors have also modified their holdings of the business. Prospera Private Wealth LLC purchased a new position in shares of Public Storage in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new position in Public Storage in the third quarter valued at about $38,000. Synergy Asset Management LLC bought a new position in Public Storage in the fourth quarter worth about $38,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Public Storage during the third quarter valued at about $50,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Public Storage in the 3rd quarter valued at about $55,000. Institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

NYSE:PSA traded up $1.07 during mid-day trading on Tuesday, hitting $304.69. The company's stock had a trading volume of 127,749 shares, compared to its average volume of 665,252. The business's fifty day moving average is $303.28 and its two-hundred day moving average is $325.86. The stock has a market cap of $53.35 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 4.88 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage 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 completion of the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

PSA has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and increased their target price for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Truist Financial raised their price objective on Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Royal Bank of Canada reduced 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. Evercore ISI lowered their price target on Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a report on Monday, October 14th. Finally, Barclays cut their price objective on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $344.54.

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.