Public Storage (NYSE:PSA) Shares Acquired by Quent Capital LLC

Quent Capital LLC raised its stake in shares of Public Storage (NYSE:PSA) by 135.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87 shares of the real estate investment trust’s stock after purchasing an additional 50 shares during the quarter. Quent Capital LLC’s holdings in Public Storage were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Summit Trail Advisors LLC increased its stake in Public Storage by 66.6% during the 4th quarter. Summit Trail Advisors LLC now owns 2,526 shares of the real estate investment trust’s stock valued at $756,000 after purchasing an additional 1,010 shares in the last quarter. Global Wealth Management Investment Advisory Inc. increased its stake in Public Storage by 12.1% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 2,185 shares of the real estate investment trust’s stock valued at $654,000 after purchasing an additional 236 shares in the last quarter. Bristlecone Advisors LLC increased its stake in Public Storage by 4.4% during the 4th quarter. Bristlecone Advisors LLC now owns 7,896 shares of the real estate investment trust’s stock valued at $2,364,000 after purchasing an additional 331 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new position in Public Storage during the 4th quarter valued at approximately $190,000. Finally, Savant Capital LLC increased its stake in Public Storage by 9.1% during the 4th quarter. Savant Capital LLC now owns 8,980 shares of the real estate investment trust’s stock valued at $2,689,000 after purchasing an additional 750 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of NYSE PSA opened at $301.37 on Friday. The company’s fifty day moving average price is $301.98 and its 200 day moving average price is $325.71. 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 $52.77 billion, a PE ratio of 31.29, a price-to-earnings-growth ratio of 4.88 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PSA. Barclays cut 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 note on Monday, January 13th. Wells Fargo & Company cut their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Royal Bank of Canada cut their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Finally, Truist Financial increased their price objective 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. Seven investment 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction 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 directly owns 2,364 shares of the company’s stock, valued at $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.00% of the stock is currently owned by insiders.

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.