Ieq Capital LLC Sells 731 Shares of Public Storage (NYSE:PSA)

Ieq Capital LLC reduced its stake in Public Storage (NYSE:PSA) by 4.7% during the 4th quarter, HoldingsChannel reports. The firm owned 14,671 shares of the real estate investment trust’s stock after selling 731 shares during the quarter. Ieq Capital LLC’s holdings in Public Storage were worth $4,393,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PSA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Public Storage by 732.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock valued at $561,763,000 after purchasing an additional 1,358,493 shares during the period. Adelante Capital Management LLC grew its position in Public Storage by 389.9% during the 3rd quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust’s stock worth $532,465,000 after acquiring an additional 1,164,630 shares during the last quarter. FMR LLC grew its position in Public Storage by 20.9% during the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after acquiring an additional 869,066 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Public Storage by 57.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust’s stock worth $405,278,000 after acquiring an additional 405,847 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Public Storage by 80.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 218,867 shares of the real estate investment trust’s stock worth $79,639,000 after acquiring an additional 97,302 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Performance

PSA stock opened at $304.30 on Friday. The business’s fifty day moving average is $298.12 and its 200-day moving average is $325.39. 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 cap of $53.29 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99.

Wall Street Analysts Forecast Growth

PSA has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and increased their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company decreased their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday. Royal Bank of Canada decreased their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Truist Financial increased their price target 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, Barclays reduced their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Seven 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $341.85.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the transaction, the insider now owns 2,364 shares of the company’s stock, valued at $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.00% of the stock is currently 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.