Stephens Inc. AR Boosts Holdings in Public Storage (NYSE:PSA)

Stephens Inc. AR increased its stake in shares of Public Storage (NYSE:PSA - Free Report) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,825 shares of the real estate investment trust's stock after buying an additional 900 shares during the quarter. Stephens Inc. AR's holdings in Public Storage were worth $11,326,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Petredis Investment Advisors LLC lifted its position in Public Storage by 0.4% during the third 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 period. S.A. Mason LLC lifted its position in 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 valued at $300,000 after purchasing an additional 30 shares during the period. Haverford Trust Co lifted its position in Public Storage by 0.7% during the third 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 period. Huntington National Bank lifted its position in Public Storage by 5.4% during the third 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 period. Finally, Chesapeake Wealth Management raised its position in shares of Public Storage by 2.2% in the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust's stock worth $560,000 after acquiring an additional 33 shares during the period. 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 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 completion of the sale, the insider now owns 2,364 shares of the company's stock, valued at approximately $751,728.36. This represents 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. 11.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays decreased 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. Truist Financial upped their price objective 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. Wells Fargo & Company decreased 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. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and upped their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, 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 research report on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Public Storage presently has an average rating of "Moderate Buy" and an average target price of $344.54.

Public Storage Price Performance

Shares of PSA traded up $1.26 during mid-day trading on Thursday, hitting $301.37. 363,616 shares of the company were exchanged, compared to its average volume of 652,538. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The stock has a market cap 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. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day moving average of $301.98 and a 200-day moving average of $325.71.

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.