Donald L. Hagan LLC Has $947,000 Stake in Public Storage (NYSE:PSA)

Donald L. Hagan LLC decreased its position in Public Storage (NYSE:PSA) by 4.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,164 shares of the real estate investment trust’s stock after selling 136 shares during the period. Donald L. Hagan LLC’s holdings in Public Storage were worth $947,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in shares of Public Storage in the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Public Storage in the third quarter valued at approximately $38,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage in the fourth quarter valued at approximately $38,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Public Storage in the third quarter valued at approximately $50,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Public Storage in the third quarter valued at approximately $55,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE PSA opened at $298.11 on Friday. The company has a market capitalization of $52.20 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 4.74 and a beta of 0.74. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The stock has a fifty day simple moving average of $310.63 and a 200 day simple moving average of $325.82. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 2,364 shares in the company, valued at $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 SEC, which is available at this hyperlink. 11.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PSA shares. Barclays cut their price target 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 Public Storage from a “sell” rating to a “hold” rating and upped their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial upped their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company cut their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada cut their target price on 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. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.