Littlejohn Financial Services Inc. Takes Position in Public Storage (NYSE:PSA)

Littlejohn Financial Services Inc. bought a new position in shares of Public Storage (NYSE:PSA - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,642 shares of the real estate investment trust's stock, valued at approximately $1,689,000. Public Storage comprises about 1.5% of Littlejohn Financial Services Inc.'s portfolio, making the stock its 29th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in PSA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Public Storage by 732.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust's stock worth $561,763,000 after acquiring an additional 1,358,493 shares during the last quarter. Adelante Capital Management LLC grew its holdings in Public Storage by 389.9% during the 3rd quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust's stock worth $532,465,000 after acquiring an additional 1,164,630 shares during the last quarter. FMR LLC grew its holdings in Public Storage by 20.9% during the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust's stock worth $1,828,763,000 after acquiring an additional 869,066 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Public Storage by 57.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust's stock valued at $405,278,000 after purchasing an additional 405,847 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Public Storage by 80.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 218,867 shares of the real estate investment trust's stock valued at $79,639,000 after purchasing an additional 97,302 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on PSA. Truist Financial upped their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and upped their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Wells Fargo & Company reduced their price objective on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Barclays reduced their price objective on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Finally, Royal Bank of Canada dropped their target price on shares of 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. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage has a consensus rating of "Moderate Buy" and a consensus target price of $344.54.

Public Storage Stock Down 0.2 %

PSA traded down $0.63 during trading on Tuesday, hitting $296.77. 556,618 shares of the company's stock were exchanged, compared to its average volume of 641,259. 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 business's 50 day moving average is $299.87 and its two-hundred day moving average is $325.85. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The stock has a market cap of $51.97 billion, a P/E ratio of 30.82, a PEG ratio of 4.88 and a beta of 0.74.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction dated 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 sale, the insider now owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 11.00% of the company's stock.

Public Storage Company 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.