Swedbank AB Boosts Stake in Public Storage (NYSE:PSA)

Swedbank AB lifted its holdings in Public Storage (NYSE:PSA - Free Report) by 3.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 159,577 shares of the real estate investment trust's stock after acquiring an additional 5,410 shares during the period. Swedbank AB owned approximately 0.09% of Public Storage worth $47,784,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Public Storage by 732.9% in 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 valued at $561,763,000 after acquiring an additional 1,358,493 shares in the last quarter. Adelante Capital Management LLC raised its stake in Public Storage by 389.9% in the third quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust's stock valued at $532,465,000 after purchasing an additional 1,164,630 shares in the last quarter. FMR LLC lifted its position 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 purchasing an additional 869,066 shares during the period. Daiwa Securities Group Inc. grew its stake in Public Storage by 57.3% during the third quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust's stock worth $405,278,000 after buying an additional 405,847 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in 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 buying an additional 97,302 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PSA shares. Evercore ISI cut their target price on Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a research note on Monday, October 14th. Barclays cut their target price on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. Morgan Stanley upped their price objective on Public Storage from $293.00 to $315.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 2nd. Royal Bank of Canada lowered their target price on Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. Finally, 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. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $344.54.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the business's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.00% of the company's stock.

Public Storage Trading Up 1.7 %

Shares of Public Storage stock traded up $4.90 on Thursday, hitting $299.16. The stock had a trading volume of 253,493 shares, compared to its average volume of 694,146. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a one year low of $256.31 and a one year high of $369.99. The stock's 50-day simple moving average is $310.63 and its two-hundred day simple moving average is $325.82. The stock has a market cap of $52.39 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 4.68 and a beta of 0.74.

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.