GAM Holding AG Lowers Stock Position in Public Storage (NYSE:PSA)

GAM Holding AG lowered its stake in Public Storage (NYSE:PSA - Free Report) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,664 shares of the real estate investment trust's stock after selling 1,410 shares during the quarter. GAM Holding AG's holdings in Public Storage were worth $9,481,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. State Street Corp lifted its position in Public Storage by 0.5% in the third quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust's stock valued at $3,773,571,000 after buying an additional 55,123 shares during the last quarter. FMR LLC lifted its position in shares of 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 purchasing an additional 52,807 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 purchasing an additional 54,992 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 purchasing an additional 1,358,493 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Stock Up 0.1 %

Public Storage stock traded up $0.24 during mid-day trading on Friday, hitting $304.30. The company had a trading volume of 593,161 shares, compared to its average volume of 628,819. The stock has a market cap of $53.29 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 4.80 and a beta of 0.74. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. 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 has a fifty day moving average of $298.12 and a 200 day moving average of $325.39.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday. Truist Financial increased their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and increased their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Barclays reduced 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 report on Monday, January 13th. Finally, Royal Bank of Canada reduced their price target on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $341.85.

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 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 transaction, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.00% of the stock is currently owned by insiders.

Public Storage Company 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.