Equitable Trust Co. Decreases Stock Position in Public Storage (NYSE:PSA)

Equitable Trust Co. lowered its stake in shares of Public Storage (NYSE:PSA - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,543 shares of the real estate investment trust's stock after selling 5,416 shares during the period. Public Storage comprises 1.2% of Equitable Trust Co.'s portfolio, making the stock its 16th largest holding. Equitable Trust Co.'s holdings in Public Storage were worth $21,722,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PSA. Atomi Financial Group Inc. purchased a new stake in shares of Public Storage in the third quarter valued at about $299,000. Brookstone Capital Management lifted its holdings in shares of Public Storage by 5.4% in the third quarter. Brookstone Capital Management now owns 1,417 shares of the real estate investment trust's stock valued at $516,000 after purchasing an additional 72 shares in the last quarter. Wedmont Private Capital purchased a new stake in shares of Public Storage in the third quarter valued at about $257,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Public Storage by 347.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,030 shares of the real estate investment trust's stock valued at $375,000 after purchasing an additional 800 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Public Storage by 17.4% in the third quarter. Valeo Financial Advisors LLC now owns 999 shares of the real estate investment trust's stock valued at $364,000 after purchasing an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Trading Up 0.4 %

PSA stock traded up $1.26 on Thursday, hitting $301.37. 363,616 shares of the company were exchanged, compared to its average volume of 652,538. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The business's fifty day moving average is $301.98 and its two-hundred day moving average is $325.71. The stock has a market capitalization of $52.77 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 4.88 and a beta of 0.74.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business'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 transaction of $143,095.50. Following the completion of the sale, the insider now directly owns 2,364 shares in the company, valued at $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 available through this hyperlink. 11.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PSA shares. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and boosted their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company cut their price objective on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Barclays cut their price objective on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Royal Bank of Canada cut their price objective on shares of 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, 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 research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $344.54.

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.