Flavin Financial Services Inc. Makes New $538,000 Investment in Public Storage (NYSE:PSA)

Flavin Financial Services Inc. bought a new position in Public Storage (NYSE:PSA) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,797 shares of the real estate investment trust’s stock, valued at approximately $538,000.

Several other large investors have also bought and sold shares of PSA. Prospera Private Wealth LLC purchased a new position in Public Storage in the third quarter worth about $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Public Storage in the third quarter worth approximately $38,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage in the fourth quarter worth approximately $38,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Public Storage in the third quarter worth approximately $50,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Public Storage in the third quarter worth approximately $55,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.10% of the company’s stock.

Public Storage Price Performance

Shares of NYSE:PSA opened at $295.84 on Tuesday. 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 has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a market capitalization of $51.81 billion, a P/E ratio of 30.72, a P/E/G ratio of 4.81 and a beta of 0.74. The firm’s 50 day simple moving average is $309.06 and its two-hundred day simple moving average is $325.85.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PSA shares. Truist Financial lifted 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. Barclays reduced their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Evercore ISI reduced their price target 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. Wells Fargo & Company cut 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 report on Tuesday, November 5th. Finally, Royal Bank of Canada cut their target price on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Seven 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $344.54.

Public Storage 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.