Global X Japan Co. Ltd. Boosts Position in Public Storage (NYSE:PSA)

Global X Japan Co. Ltd. raised its position in shares of Public Storage (NYSE:PSA) by 13.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 333 shares of the real estate investment trust’s stock after purchasing an additional 40 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Public Storage were worth $100,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Public Storage by 732.9% during the third 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 buying an additional 1,358,493 shares during the period. Adelante Capital Management LLC raised its holdings in Public Storage by 389.9% in 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 purchasing an additional 1,164,630 shares during the period. FMR LLC lifted its position in Public Storage by 20.9% during the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock valued at $1,828,763,000 after purchasing an additional 869,066 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Public Storage by 57.3% during the third quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust’s stock valued at $405,278,000 after purchasing an additional 405,847 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Public Storage by 80.0% during the third quarter. BNP Paribas Financial Markets now owns 218,867 shares of the real estate investment trust’s stock valued at $79,639,000 after purchasing an additional 97,302 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. 11.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada decreased their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Barclays decreased their target price 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. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Truist Financial raised their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company cut their price target 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. Seven investment 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $344.54.

Public Storage Trading Down 0.1 %

Shares of PSA stock opened at $302.48 on Friday. 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 has a market capitalization of $52.97 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The stock’s 50-day moving average price is $305.00 and its 200-day moving average price is $325.44.

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.