WD Rutherford LLC Acquires 1,059 Shares of Public Storage (NYSE:PSA)

WD Rutherford LLC boosted its stake in shares of Public Storage (NYSE:PSA - Free Report) by 21.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,951 shares of the real estate investment trust's stock after acquiring an additional 1,059 shares during the quarter. WD Rutherford LLC's holdings in Public Storage were worth $1,782,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. S.A. Mason LLC grew its holdings in 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 during the last quarter. Haverford Trust Co grew its holdings in 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 worth $1,558,000 after acquiring an additional 30 shares during the last quarter. Huntington National Bank grew its holdings in Public Storage by 5.4% during the 3rd 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 grew its holdings in Public Storage by 2.2% during the 3rd 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 last quarter. Finally, Lindenwold Advisors INC grew its holdings in 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 acquiring an additional 34 shares during the last quarter. Institutional investors own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PSA. Barclays cut their price target on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada decreased their price target on shares of 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. Wells Fargo & Company decreased their target price on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Truist Financial raised their price target on Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and raised their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Seven equities research 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 company. According to MarketBeat, Public Storage has an average rating of "Moderate Buy" and a consensus price target of $344.54.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the business's stock in a transaction dated 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 owns 2,364 shares of the company's stock, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.10% of the stock is owned by insiders.

Public Storage Price Performance

PSA stock traded up $0.21 during midday trading on Wednesday, reaching $297.21. The company had a trading volume of 474,671 shares, compared to its average volume of 636,052. The company 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. The stock has a 50 day moving average price of $299.25 and a 200-day moving average price of $325.74. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

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.