Public Storage (NYSE:PSA) Stock Holdings Lifted by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its position in Public Storage (NYSE:PSA) by 66.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,526 shares of the real estate investment trust’s stock after acquiring an additional 1,010 shares during the quarter. Summit Trail Advisors LLC’s holdings in Public Storage were worth $756,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSA. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage in the third quarter worth $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage in the 3rd quarter worth about $38,000. Synergy Asset Management LLC acquired a new stake in Public Storage during the 4th quarter worth about $38,000. Harbor Capital Advisors Inc. acquired a new stake in Public Storage during the 3rd quarter worth about $55,000. Finally, Toth Financial Advisory Corp lifted its position in shares of Public Storage by 48.2% in 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 in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PSA shares. Barclays dropped their price objective 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 raised shares of Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company reduced their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Truist Financial increased their price target 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. Finally, Royal Bank of Canada reduced their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $344.54.

Public Storage Stock Up 0.5 %

Public Storage stock opened at $305.26 on Wednesday. The firm has a market cap of $53.45 billion, a price-to-earnings ratio of 31.70, a P/E/G ratio of 4.88 and a beta of 0.74. The firm has a fifty day moving average price of $303.28 and a two-hundred day moving average price of $325.86. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction that occurred 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 directly owns 2,364 shares of the company’s stock, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.00% of the stock is owned by insiders.

Public Storage 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.