Kingswood Wealth Advisors LLC Increases Stake in Public Storage (NYSE:PSA)

Kingswood Wealth Advisors LLC boosted its stake in shares of Public Storage (NYSE:PSA) by 22.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,004 shares of the real estate investment trust’s stock after purchasing an additional 374 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Public Storage were worth $600,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PSA. Prospera Private Wealth LLC acquired a new position in shares of Public Storage in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage during the 3rd quarter valued at about $38,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Public Storage in the third quarter valued at about $50,000. Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage in the third quarter worth about $55,000. Finally, Toth Financial Advisory Corp lifted its holdings in shares of Public Storage by 48.2% during the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PSA. Royal Bank of Canada reduced their price target 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 reduced their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Truist Financial upped their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Morgan Stanley lifted their price objective on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and upped their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $344.54.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the firm’s 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 completion of 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 through the SEC website. 11.00% of the stock is currently owned by company insiders.

Public Storage Stock Performance

NYSE PSA opened at $294.45 on Thursday. The stock’s 50 day simple moving average is $311.40 and its 200-day simple moving average is $326.04. The company has a market cap of $51.56 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 4.68 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99.

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.