54,152 Shares in Public Storage (NYSE:PSA) Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC bought a new position in shares of Public Storage (NYSE:PSA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 54,152 shares of the real estate investment trust's stock, valued at approximately $16,215,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. S.A. Mason LLC boosted its stake in shares of Public Storage by 3.8% during the 3rd quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust's stock worth $300,000 after acquiring an additional 30 shares in the last quarter. Haverford Trust Co boosted 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 worth $1,558,000 after purchasing an additional 30 shares in the last quarter. Huntington National Bank boosted 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 worth $235,000 after purchasing an additional 33 shares in the last quarter. Chesapeake Wealth Management grew its holdings in 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 valued at $560,000 after purchasing an additional 33 shares during the last quarter. Finally, Lindenwold Advisors INC raised its stake in shares of Public Storage by 0.8% during the 3rd quarter. Lindenwold Advisors INC now owns 4,390 shares of the real estate investment trust's stock worth $1,597,000 after buying an additional 34 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the transaction, the insider now owns 2,364 shares of the company's stock, valued at $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 11.10% of the company's stock.

Public Storage Price Performance

PSA traded up $0.21 during trading on Wednesday, reaching $297.21. The stock had a trading volume of 474,671 shares, compared to its average volume of 636,052. The stock has a 50 day moving average of $299.25 and a two-hundred day moving average of $325.74. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $52.04 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth 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.

Analysts Set New Price Targets

Several analysts have issued reports on PSA shares. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and upped their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial boosted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research report on Thursday, December 5th. Wells Fargo & Company reduced their target price on Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Barclays decreased their price target on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. Finally, Royal Bank of Canada cut 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 report on Friday, November 8th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $344.54.

Public Storage 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.