Sumitomo Mitsui DS Asset Management Company Ltd Has $16.09 Million Stake in Public Storage (NYSE:PSA)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Public Storage (NYSE:PSA - Free Report) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,729 shares of the real estate investment trust's stock after purchasing an additional 2,566 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Public Storage were worth $16,089,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its stake in Public Storage by 0.5% during the third quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust's stock worth $3,773,571,000 after buying an additional 55,123 shares during the last quarter. FMR LLC grew its stake in Public Storage by 20.9% during the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust's stock worth $1,828,763,000 after buying an additional 869,066 shares during the last quarter. Geode Capital Management LLC grew its stake in Public Storage by 1.4% during the third quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust's stock worth $1,425,941,000 after buying an additional 52,807 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Public Storage by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust's stock worth $1,023,080,000 after buying an additional 54,992 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Public Storage by 732.9% during the third 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 buying an additional 1,358,493 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Trading Up 0.5 %

PSA stock traded up $1.64 during midday trading on Tuesday, reaching $305.26. The company's stock had a trading volume of 333,773 shares, compared to its average volume of 673,084. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The stock has a market cap of $53.45 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 4.88 and a beta of 0.74. 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 simple moving average is $303.28 and its 200-day simple moving average is $325.86.

Analysts Set New Price Targets

Several analysts have weighed in on PSA shares. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and upped their price objective for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Royal Bank of Canada decreased their price objective on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. Barclays decreased their price target 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. Evercore ISI decreased their price target on shares of Public Storage from $343.00 to $338.00 and set an "in-line" rating on the stock in a research note on Monday, October 14th. Finally, Wells Fargo & Company decreased their price target 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. 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 company. Based on data from MarketBeat, Public Storage has a consensus rating of "Moderate Buy" and an average target price of $344.54.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the 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 sale, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 11.00% of the company's stock.

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.