Public Storage (NYSE:PSA) Shares Sold by Stableford Capital II LLC

Stableford Capital II LLC reduced its position in Public Storage (NYSE:PSA) by 1.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,166 shares of the real estate investment trust’s stock after selling 69 shares during the quarter. Stableford Capital II LLC’s holdings in Public Storage were worth $1,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Public Storage by 732.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock worth $561,763,000 after purchasing an additional 1,358,493 shares during the last quarter. Adelante Capital Management LLC boosted its stake in shares of Public Storage by 389.9% during the third quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust’s stock worth $532,465,000 after buying an additional 1,164,630 shares during the period. FMR LLC grew its holdings in shares of Public Storage by 20.9% during the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after buying an additional 869,066 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Public Storage by 57.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust’s stock valued at $405,278,000 after acquiring an additional 405,847 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Public Storage by 80.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 218,867 shares of the real estate investment trust’s stock worth $79,639,000 after acquiring an additional 97,302 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PSA shares. Royal Bank of Canada dropped their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Barclays cut their price objective on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Wells Fargo & Company lowered their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Truist Financial boosted their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, Evercore ISI lowered their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Public Storage Stock Up 0.2 %

PSA opened at $298.50 on Friday. 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 company has a market cap of $52.27 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 4.74 and a beta of 0.74. Public Storage has a one year low of $256.31 and a one year high of $369.99. The business’s fifty day moving average is $309.06 and its two-hundred day moving average is $325.60.

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.