Public Storage (NYSE:PSA) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its holdings in shares of Public Storage (NYSE:PSA) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,720 shares of the real estate investment trust’s stock after selling 188 shares during the quarter. Hartford Investment Management Co.’s holdings in Public Storage were worth $2,911,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quent Capital LLC grew its stake in Public Storage by 135.1% during the 4th 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 Public Storage during the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Storage in the 3rd quarter worth approximately $38,000. Synergy Asset Management LLC acquired a new position in shares of Public Storage in the 4th quarter worth approximately $38,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Public Storage in the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Down 1.7 %

Shares of Public Storage stock opened at $300.13 on Thursday. The business’s fifty day moving average price is $302.67 and its two-hundred day moving average price is $325.89. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $52.56 billion, a P/E ratio of 31.17, a PEG ratio of 4.88 and a beta of 0.74. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99.

Wall Street Analyst Weigh In

PSA has been the subject of several research reports. 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 report on Monday, January 13th. Royal Bank of Canada decreased their target price 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. Wells Fargo & Company decreased their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Truist Financial lifted their target price 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, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Seven equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $344.54.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction on Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the sale, the insider now owns 2,364 shares of the company’s stock, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.