Public Storage (NYSE:PSA) Shares Sold by Busey Bank

Busey Bank lessened its position in Public Storage (NYSE:PSA) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,886 shares of the real estate investment trust’s stock after selling 181 shares during the period. Busey Bank’s holdings in Public Storage were worth $565,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PSA. Synergy Asset Management LLC bought a new stake in shares of Public Storage during the fourth quarter valued at about $38,000. Swedbank AB grew its position in Public Storage by 3.5% in the fourth quarter. Swedbank AB now owns 159,577 shares of the real estate investment trust’s stock worth $47,784,000 after buying an additional 5,410 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Public Storage by 2.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 10,346 shares of the real estate investment trust’s stock worth $3,098,000 after acquiring an additional 214 shares during the last quarter. Capital Investment Counsel LLC acquired a new stake in Public Storage during the 4th quarter worth about $3,154,000. Finally, Atticus Wealth Management LLC lifted its position in shares of Public Storage by 10.0% in the 4th quarter. Atticus Wealth Management LLC now owns 816 shares of the real estate investment trust’s stock valued at $244,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Insider Activity

In other 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 value of $143,095.50. Following the completion of the transaction, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 11.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PSA shares. Truist Financial increased their price objective on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Evercore ISI cut their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Royal Bank of Canada lowered their price objective 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. Wells Fargo & Company dropped 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. Finally, Barclays decreased their target price 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. Seven investment 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. Based on data from MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and a consensus price target of $344.54.

Public Storage Trading Up 1.3 %

PSA stock opened at $298.11 on Friday. The business’s 50 day moving average is $310.63 and its 200-day moving average is $325.82. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The firm has a market cap of $52.20 billion, a P/E ratio of 30.96, a P/E/G ratio of 4.74 and a beta of 0.74. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

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.