W.H. Cornerstone Investments Inc. Has $596,000 Stake in Public Storage (NYSE:PSA)

W.H. Cornerstone Investments Inc. grew its stake in Public Storage (NYSE:PSA - Free Report) by 163.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,991 shares of the real estate investment trust's stock after acquiring an additional 1,235 shares during the period. W.H. Cornerstone Investments Inc.'s holdings in Public Storage were worth $596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PSA. S.A. Mason LLC raised its stake 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 buying an additional 30 shares during the last quarter. Haverford Trust Co raised its stake in shares of Public Storage by 0.7% during the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust's stock worth $1,558,000 after buying an additional 30 shares during the last quarter. Huntington National Bank raised its stake in shares of Public Storage by 5.4% during the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust's stock worth $235,000 after buying an additional 33 shares during the last quarter. Chesapeake Wealth Management raised its stake in shares of Public Storage by 2.2% during the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust's stock worth $560,000 after buying an additional 33 shares during the last quarter. Finally, Lindenwold Advisors INC raised its stake in shares of Public Storage by 0.8% during the third quarter. Lindenwold Advisors INC now owns 4,390 shares of the real estate investment trust's stock worth $1,597,000 after buying an additional 34 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Insider Activity

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 shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 11.00% of the company's stock.

Analyst Ratings Changes

PSA has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and boosted their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Barclays dropped their price target on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. Royal Bank of Canada dropped their price target on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research note on Friday, November 8th. Wells Fargo & Company decreased their price objective on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Finally, Truist Financial boosted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a report on Thursday, December 5th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $344.54.

Public Storage Stock Down 0.2 %

Shares of Public Storage stock traded down $0.63 on Tuesday, hitting $296.77. The company had a trading volume of 556,618 shares, compared to its average volume of 641,259. The firm has a market capitalization of $51.97 billion, a P/E ratio of 30.82, a P/E/G ratio of 4.88 and a beta of 0.74. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a 50-day moving average of $299.87 and a 200-day moving average of $325.85.

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.