Yousif Capital Management LLC Sells 1,000 Shares of Public Storage (NYSE:PSA)

Yousif Capital Management LLC cut its stake in Public Storage (NYSE:PSA - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,606 shares of the real estate investment trust's stock after selling 1,000 shares during the period. Yousif Capital Management LLC's holdings in Public Storage were worth $7,368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Prospera Private Wealth LLC acquired a new stake in Public Storage during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC acquired a new position in Public Storage in the 3rd quarter valued at about $38,000. Synergy Asset Management LLC purchased a new stake in shares of Public Storage in the fourth quarter valued at $38,000. Compagnie Lombard Odier SCmA acquired a new position in Public Storage during the third quarter worth approximately $50,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Public Storage in the 3rd quarter valued at about $55,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Nathaniel A. Vitan sold 450 shares of the company's stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.00% of the stock is currently owned by corporate insiders.

Public Storage Stock Performance

Shares of PSA traded down $0.40 during midday trading on Friday, reaching $302.48. The stock had a trading volume of 420,567 shares, compared to its average volume of 690,775. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a 50 day simple moving average of $304.09 and a 200-day simple moving average of $325.59. The firm has a market cap of $52.97 billion, a PE ratio of 31.41, a P/E/G ratio of 4.88 and a beta of 0.74. Public Storage has a one year low of $256.31 and a one year high of $369.99.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PSA shares. Truist Financial upped their target price on Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research report on Thursday, December 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 research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a "sell" rating to a "hold" rating and increased their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. 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 report on Tuesday, November 5th. Finally, Evercore ISI cut 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. Seven 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $344.54.

About Public Storage

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.