Public Storage (NYSE:PSA) Shares Bought by abrdn plc

abrdn plc increased its position in shares of Public Storage (NYSE:PSA - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 251,433 shares of the real estate investment trust's stock after purchasing an additional 8,496 shares during the quarter. abrdn plc owned 0.14% of Public Storage worth $74,657,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSA. Prospera Private Wealth LLC acquired a new position in Public Storage during the third quarter worth $34,000. Ashton Thomas Securities LLC acquired a new position in Public Storage during the third quarter worth $38,000. Synergy Asset Management LLC acquired a new position in Public Storage during the fourth quarter worth $38,000. Compagnie Lombard Odier SCmA purchased a new position in Public Storage during the third quarter worth $50,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Public Storage during the third quarter worth $55,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Nathaniel A. Vitan sold 450 shares of the company'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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.00% of the company's stock.

Analyst Upgrades and Downgrades

PSA has been the subject of several recent research reports. Royal Bank of Canada dropped their price target 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. Evercore ISI lowered their price objective on 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. Truist Financial boosted their price target on Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research report on Thursday, December 5th. Barclays lowered their price target on Public Storage from $380.00 to $361.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and boosted their price target for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Seven equities research 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $344.54.

Public Storage Stock Down 0.1 %

Shares of NYSE:PSA traded down $0.40 during trading on Friday, hitting $302.48. The company's stock had a trading volume of 420,567 shares, compared to its average volume of 690,775. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The stock's 50-day moving average price is $304.09 and its two-hundred day moving average price is $325.42. The company has a market capitalization of $52.97 billion, a PE ratio of 31.41, a PEG ratio of 4.88 and a beta of 0.74.

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.