OLD National Bancorp IN Sells 3,727 Shares of Public Storage (NYSE:PSA)

OLD National Bancorp IN lessened its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 13.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,009 shares of the real estate investment trust's stock after selling 3,727 shares during the quarter. OLD National Bancorp IN's holdings in Public Storage were worth $7,189,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Petredis Investment Advisors LLC boosted its holdings 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 worth $2,497,000 after buying an additional 30 shares during the period. S.A. Mason LLC lifted its position in shares of Public Storage by 3.8% during the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust's stock worth $300,000 after acquiring an additional 30 shares in the last quarter. Haverford Trust Co boosted its holdings in shares of 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 worth $1,558,000 after acquiring an additional 30 shares during the period. Huntington National Bank grew its position in shares of 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 purchasing an additional 33 shares in the last quarter. Finally, Chesapeake Wealth Management raised its stake in shares of Public Storage by 2.2% during the 3rd quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust's stock valued at $560,000 after purchasing an additional 33 shares during the period. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Performance

Shares of PSA stock opened at $298.11 on Friday. The company has a market capitalization of $52.20 billion, a P/E ratio of 30.96, a PEG ratio of 4.74 and a beta of 0.74. Public Storage has a fifty-two week low of $256.31 and a fifty-two week 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. The stock has a 50 day moving average price of $310.63 and a two-hundred day moving average price of $325.82.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares of the company's stock, valued at approximately $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 11.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays decreased their price target 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. Deutsche Bank Aktiengesellschaft upgraded 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 research note on Friday, January 10th. Evercore ISI reduced their price target on shares of Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a research report on Monday, October 14th. 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 note on Tuesday, November 5th. Finally, Truist Financial upped their target price on Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a research note on Thursday, December 5th. Seven 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 stock. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of "Moderate Buy" and an average 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.

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