Summit Trail Advisors LLC increased its position in Public Storage (NYSE:PSA - Free Report) by 66.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,526 shares of the real estate investment trust's stock after purchasing an additional 1,010 shares during the period. Summit Trail Advisors LLC's holdings in Public Storage were worth $756,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Petredis Investment Advisors LLC lifted its holdings in shares of Public Storage by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust's stock valued at $2,497,000 after purchasing an additional 30 shares during the last quarter. S.A. Mason LLC lifted its holdings in shares of Public Storage by 3.8% in the 3rd quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust's stock valued at $300,000 after purchasing an additional 30 shares during the last quarter. Haverford Trust Co lifted its holdings in shares of Public Storage by 0.7% in 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 purchasing an additional 30 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Public Storage by 5.4% in the 3rd quarter. Huntington National Bank now owns 645 shares of the real estate investment trust's stock valued at $235,000 after purchasing an additional 33 shares during the last quarter. Finally, Chesapeake Wealth Management lifted its holdings in shares of Public Storage by 2.2% in the 3rd 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. 78.79% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Public Storage
In related news, insider Nathaniel A. Vitan sold 450 shares of the company's stock in a transaction on Friday, December 13th. The stock was 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 directly owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 11.00% of the company's stock.
Public Storage Price Performance
Shares of NYSE PSA traded down $3.55 during trading on Friday, reaching $297.69. The company had a trading volume of 398,801 shares, compared to its average volume of 690,775. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The stock has a market capitalization of $52.13 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 4.88 and a beta of 0.74. The stock has a 50-day moving average price of $300.63 and a two-hundred day moving average price of $325.50. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.
Analysts Set New Price Targets
Several analysts have recently weighed in on the company. Wells Fargo & Company reduced their target price 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 raised Public Storage from a "sell" rating to a "hold" rating and upped their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Royal Bank of Canada reduced their price objective on 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. Barclays reduced their price objective 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 upped 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 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $344.54.
Check Out Our Latest Stock Report on PSA
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.
Further Reading
Before you consider Public Storage, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Public Storage wasn't on the list.
While Public Storage currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
