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

Flavin Financial Services Inc. bought a new position in Public Storage (NYSE:PSA) during the 4th quarter, Holdings Channel.com reports. The fund bought 1,797 shares of the real estate investment trust’s stock, valued at approximately $538,000.

Other hedge funds have also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in shares of Public Storage in the third quarter worth $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage during the third quarter valued at $38,000. Synergy Asset Management LLC purchased a new stake in Public Storage during the fourth quarter valued at $38,000. Compagnie Lombard Odier SCmA purchased a new stake in Public Storage during the third quarter valued at $50,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in Public Storage during the third quarter valued at $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 0.9 %

NYSE PSA opened at $295.84 on Tuesday. The company’s 50-day moving average price is $309.06 and its 200-day moving average price is $325.85. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market cap of $51.81 billion, a PE ratio of 30.72, a PEG ratio of 4.81 and a beta of 0.74. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction dated 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 in the company, valued at $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Evercore ISI decreased 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 research note on Monday, October 14th. Truist Financial upped their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Barclays decreased 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. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and boosted their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, 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 report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus 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.