Silverlake Wealth Management LLC Has $835,000 Position in Public Storage (NYSE:PSA)

Silverlake Wealth Management LLC lowered its stake in shares of Public Storage (NYSE:PSA) by 2.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,789 shares of the real estate investment trust’s stock after selling 78 shares during the period. Silverlake Wealth Management LLC’s holdings in Public Storage were worth $835,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in PSA. Petredis Investment Advisors LLC increased its stake in Public Storage by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock valued at $2,497,000 after acquiring an additional 30 shares during the period. S.A. Mason LLC grew its stake in Public Storage by 3.8% during the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock worth $300,000 after buying an additional 30 shares during the last quarter. Haverford Trust Co grew its stake in Public Storage by 0.7% during the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock worth $1,558,000 after buying an additional 30 shares during the last quarter. Huntington National Bank grew its stake in Public Storage by 5.4% during the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 33 shares during the last quarter. Finally, Chesapeake Wealth Management grew its stake in Public Storage by 2.2% during the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock worth $560,000 after buying an additional 33 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 0.4 %

PSA opened at $296.99 on Wednesday. The firm’s fifty day moving average is $308.02 and its two-hundred day moving average is $325.80. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $52.01 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 11.10% of the company’s stock.

Analysts Set New Price Targets

PSA has been the topic of several research analyst reports. Truist Financial upped their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Evercore ISI decreased their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and increased their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. 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. Finally, Wells Fargo & Company decreased their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $344.54.

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.