Savant Capital LLC Acquires 750 Shares of Public Storage (NYSE:PSA)

Savant Capital LLC raised its stake in shares of Public Storage (NYSE:PSA) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,980 shares of the real estate investment trust’s stock after buying an additional 750 shares during the quarter. Savant Capital LLC’s holdings in Public Storage were worth $2,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PSA. Exchange Traded Concepts LLC lifted its position in shares of Public Storage by 4.6% in the third quarter. Exchange Traded Concepts LLC now owns 1,953 shares of the real estate investment trust’s stock worth $711,000 after buying an additional 85 shares in the last quarter. CX Institutional raised its holdings in shares of Public Storage by 6.9% during the 3rd quarter. CX Institutional now owns 790 shares of the real estate investment trust’s stock worth $287,000 after acquiring an additional 51 shares in the last quarter. Creative Planning boosted its position in shares of Public Storage by 13.1% during the 3rd quarter. Creative Planning now owns 21,985 shares of the real estate investment trust’s stock valued at $8,000,000 after acquiring an additional 2,550 shares during the last quarter. NBC Securities Inc. grew its holdings in shares of Public Storage by 51.3% in the third quarter. NBC Securities Inc. now owns 422 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 143 shares in the last quarter. Finally, Swedbank AB increased its position in Public Storage by 31.9% in the third quarter. Swedbank AB now owns 154,167 shares of the real estate investment trust’s stock worth $56,097,000 after purchasing an additional 37,285 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of Public Storage stock opened at $300.13 on Thursday. 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’s fifty day moving average price is $302.67 and its 200-day moving average price is $325.89. The firm has a market cap of $52.56 billion, a P/E ratio of 31.17, a P/E/G ratio of 4.88 and a beta of 0.74. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99.

Analysts Set New Price Targets

Several equities analysts have commented on PSA shares. Royal Bank of Canada lowered their price objective 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. Barclays dropped their price target 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. Wells Fargo & Company reduced their price objective on 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 raised Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Truist Financial boosted their target price on Public Storage from $306.00 to $340.00 and gave the company 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $344.54.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 450 shares of the 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 transaction, the insider now directly owns 2,364 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 11.00% of the stock is owned by company insiders.

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.