Mediolanum International Funds Ltd Decreases Stock Holdings in Public Storage (NYSE:PSA)

Mediolanum International Funds Ltd cut its holdings in Public Storage (NYSE:PSA - Free Report) by 22.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,644 shares of the real estate investment trust's stock after selling 9,254 shares during the quarter. Mediolanum International Funds Ltd's holdings in Public Storage were worth $9,338,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PSA. Synergy Asset Management LLC purchased a new stake in Public Storage in the fourth quarter worth about $38,000. Swedbank AB grew its stake in shares of Public Storage by 3.5% in the 4th quarter. Swedbank AB now owns 159,577 shares of the real estate investment trust's stock worth $47,784,000 after buying an additional 5,410 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Public Storage by 2.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 10,346 shares of the real estate investment trust's stock valued at $3,098,000 after buying an additional 214 shares in the last quarter. Capital Investment Counsel LLC purchased a new position in Public Storage during the fourth quarter valued at $3,154,000. Finally, Atticus Wealth Management LLC boosted its holdings in Public Storage by 10.0% in the fourth quarter. Atticus Wealth Management LLC now owns 816 shares of the real estate investment trust's stock worth $244,000 after acquiring an additional 74 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PSA has been the subject of several analyst reports. Barclays reduced their price target on Public Storage from $380.00 to $361.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Evercore ISI decreased their price objective on shares of Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a report on Monday, October 14th. Truist Financial increased their price objective on Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and lifted their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Wells Fargo & Company lowered their target price 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 investment 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's stock. According to MarketBeat, Public Storage currently has a consensus rating of "Moderate Buy" and an average price target of $344.54.

Public Storage Stock Performance

Shares of NYSE:PSA traded up $0.45 during midday trading on Friday, hitting $298.50. The company had a trading volume of 734,333 shares, compared to its average volume of 647,330. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The company has a fifty day moving average of $309.06 and a two-hundred day moving average of $325.60. The company has a market cap of $52.27 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 4.74 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction 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 sale, the insider now directly owns 2,364 shares of the company's stock, 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. Company insiders own 11.00% of the company's stock.

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.