Public Storage (NYSE:PSA) Stock Holdings Reduced by Ieq Capital LLC

Ieq Capital LLC lowered its position in Public Storage (NYSE:PSA) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,671 shares of the real estate investment trust’s stock after selling 731 shares during the quarter. Ieq Capital LLC’s holdings in Public Storage were worth $4,393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quent Capital LLC grew its stake in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage in the third quarter worth about $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage in the third quarter worth about $38,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage in the fourth quarter worth about $38,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Public Storage in the third quarter worth about $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

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 transaction of $143,095.50. Following the transaction, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSA. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and boosted their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company reduced their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday. Royal Bank of Canada reduced their price target on 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. Truist Financial boosted their price objective on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, Barclays cut their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Seven research 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 company. According to MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus price target of $341.85.

Public Storage Trading Up 0.1 %

Shares of PSA opened at $304.30 on Friday. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $53.29 billion, a price-to-earnings ratio of 31.60, a P/E/G ratio of 4.80 and a beta of 0.74. The stock’s 50-day moving average price is $298.12 and its 200 day moving average price is $325.39.

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.