Bristlecone Advisors LLC Raises Holdings in Public Storage (NYSE:PSA)

Bristlecone Advisors LLC raised its holdings in shares of Public Storage (NYSE:PSA) by 4.4% during the fourth quarter, HoldingsChannel reports. The firm owned 7,896 shares of the real estate investment trust’s stock after purchasing an additional 331 shares during the period. Bristlecone Advisors LLC’s holdings in Public Storage were worth $2,364,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Prospera Private Wealth LLC purchased a new position in Public Storage in the third quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Storage during the third quarter valued at about $38,000. Synergy Asset Management LLC acquired a new stake in Public Storage in the 4th quarter worth approximately $38,000. Compagnie Lombard Odier SCmA purchased a new stake in Public Storage during the 3rd quarter worth approximately $50,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Public Storage during the 3rd quarter valued at approximately $55,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

NYSE:PSA opened at $302.48 on Monday. The stock’s fifty day moving average is $304.09 and its two-hundred day moving average is $325.59. 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 company has a market capitalization of $52.97 billion, a P/E ratio of 31.41, a P/E/G ratio of 4.88 and a beta of 0.74. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Analyst Upgrades and Downgrades

PSA has been the topic of several research reports. Evercore ISI cut their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Royal Bank of Canada decreased 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. Wells Fargo & Company reduced their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Barclays dropped their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Truist Financial upped 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. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $344.54.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business’s 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 completion of the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.00% of the stock is owned by company insiders.

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.