Strategic Financial Concepts LLC acquired a new position in shares of Public Storage (NYSE:PSA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,152 shares of the real estate investment trust's stock, valued at approximately $16,215,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage during the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC bought a new stake in Public Storage during the third quarter worth about $38,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage during the fourth quarter worth approximately $38,000. Compagnie Lombard Odier SCmA bought a new position in shares of Public Storage in the third quarter valued at approximately $50,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Public Storage in the 3rd quarter worth approximately $55,000. 78.79% of the stock is owned by institutional investors.
Public Storage Trading Up 0.5 %
PSA traded up $1.64 during midday trading on Tuesday, reaching $305.26. 333,773 shares of the company were exchanged, compared to its average volume of 673,084. 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 stock has a market capitalization of $53.45 billion, a P/E ratio of 31.70, a PEG ratio of 4.88 and a beta of 0.74. The stock's 50-day simple moving average is $303.28 and its 200 day simple moving average is $325.86. Public Storage has a one year low of $256.31 and a one year high of $369.99.
Analyst Upgrades and Downgrades
PSA has been the subject of a number of recent analyst reports. Royal Bank of Canada dropped their price target on 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 lowered their target price 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. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and upped their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Evercore ISI dropped their target price on shares of Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a research note on Monday, October 14th. Finally, Wells Fargo & Company reduced 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 report on Tuesday, November 5th. Seven research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $344.54.
Check Out Our Latest Research Report on Public Storage
Insider Buying and Selling
In other Public Storage 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 sale, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 11.00% of the stock is owned by insiders.
Public Storage Profile
(
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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