Public Storage (NYSE:PSA) Shares Sold by Equitable Trust Co.

Equitable Trust Co. lessened its stake in shares of Public Storage (NYSE:PSA) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,543 shares of the real estate investment trust’s stock after selling 5,416 shares during the quarter. Public Storage comprises approximately 1.2% of Equitable Trust Co.’s portfolio, making the stock its 16th biggest position. Equitable Trust Co.’s holdings in Public Storage were worth $21,722,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Public Storage by 5.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock worth $16,089,000 after purchasing an additional 2,566 shares during the last quarter. Capital Investment Advisors LLC raised its stake in shares of Public Storage by 25.4% during the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock worth $8,566,000 after purchasing an additional 5,793 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Public Storage by 1.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock worth $51,762,000 after acquiring an additional 2,605 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Public Storage by 114.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock worth $33,302,000 after acquiring an additional 48,803 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Public Storage by 3,714.6% in the third quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock worth $666,000 after acquiring an additional 1,783 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 0.1 %

PSA opened at $302.48 on Monday. 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 firm has a market cap of $52.97 billion, a P/E ratio of 31.41, a PEG ratio of 4.88 and a beta of 0.74. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The business’s fifty day simple moving average is $304.09 and its 200 day simple moving average is $325.59.

Wall Street Analyst Weigh In

Several research firms have issued reports on PSA. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada cut their price objective 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. Barclays cut their price objective 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. Truist Financial increased their price objective 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, Evercore ISI lowered their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and an average target price of $344.54.

Insider Activity at Public Storage

In related 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 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. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.00% of the company’s stock.

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.