New York State Teachers Retirement System Cuts Stock Position in Public Storage (NYSE:PSA)

New York State Teachers Retirement System lowered its holdings in Public Storage (NYSE:PSA) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,569 shares of the real estate investment trust’s stock after selling 399 shares during the period. New York State Teachers Retirement System’s holdings in Public Storage were worth $37,900,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC boosted its position in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 50 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Public Storage in the third quarter worth $34,000. Ashton Thomas Securities LLC purchased a new position in Public Storage in the third quarter worth $38,000. Synergy Asset Management LLC purchased a new position in Public Storage in the fourth quarter worth $38,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Public Storage in the third quarter worth $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.00% of the stock is owned by company insiders.

Public Storage Stock Performance

NYSE:PSA opened at $297.69 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The firm has a market cap of $52.13 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 4.88 and a beta of 0.74. The business’s fifty day moving average is $301.36 and its 200 day moving average is $325.54.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company lowered their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada lowered their target price 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. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and boosted their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Barclays lowered their target price on 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, Truist Financial boosted their target price on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. 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. According to data from MarketBeat.com, the stock presently has a consensus 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.