Rhumbline Advisers decreased its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,340 shares of the real estate investment trust's stock after selling 5,122 shares during the quarter. Rhumbline Advisers owned 0.20% of Public Storage worth $102,810,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of the business. S.A. Mason LLC boosted its holdings 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 purchasing an additional 30 shares during the period. Haverford Trust Co grew its holdings in shares of Public Storage by 0.7% during the 3rd quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust's stock valued at $1,558,000 after acquiring an additional 30 shares in the last quarter. Huntington National Bank increased its stake in shares of Public Storage by 5.4% in the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust's stock worth $235,000 after acquiring an additional 33 shares during the last quarter. Chesapeake Wealth Management boosted its position in 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 valued at $560,000 after purchasing an additional 33 shares during the last quarter. Finally, Lindenwold Advisors INC grew its stake in Public Storage by 0.8% in the third quarter. Lindenwold Advisors INC now owns 4,390 shares of the real estate investment trust's stock valued at $1,597,000 after purchasing an additional 34 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.
Public Storage Stock Performance
Shares of PSA stock traded up $0.21 during mid-day trading on Wednesday, reaching $297.21. The stock had a trading volume of 474,600 shares, compared to its average volume of 636,050. The firm has a market cap of $52.04 billion, a PE ratio of 30.86, a P/E/G ratio of 4.80 and a beta of 0.74. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a one year low of $256.31 and a one year high of $369.99. The firm's 50 day simple moving average is $299.25 and its 200 day simple moving average is $325.74.
Analyst Ratings Changes
Several brokerages have recently issued reports on PSA. Wells Fargo & Company reduced their price target on Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upgraded 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 note on Friday, January 10th. Royal Bank of Canada decreased 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 report on Friday, November 8th. Barclays decreased their price target on Public Storage from $380.00 to $361.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. Finally, Truist Financial raised their price objective on Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research note 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $344.54.
Read Our Latest Stock Analysis on PSA
Insiders Place Their Bets
In other news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the sale, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.10% of the company's stock.
About Public Storage
(
Free Report)
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.
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