Strategic Financial Concepts LLC Makes New $16.22 Million Investment in Public Storage (NYSE:PSA)

Strategic Financial Concepts LLC purchased a new stake in shares of Public Storage (NYSE:PSA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 54,152 shares of the real estate investment trust’s stock, valued at approximately $16,215,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSA. Quent Capital LLC boosted its stake in shares of Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 50 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Public Storage during the third quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Storage in the 3rd quarter valued at $38,000. Synergy Asset Management LLC purchased a new position in Public Storage in the 4th quarter worth about $38,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Public Storage during the 3rd quarter worth about $55,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 1.2 %

Shares of NYSE PSA opened at $297.69 on Friday. The business has a 50 day simple moving average of $300.63 and a 200 day simple moving average of $325.50. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The stock 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 company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Wall Street Analyst Weigh In

PSA has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their target price for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Wells Fargo & Company decreased their price objective 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. Barclays lowered 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 report on Monday, January 13th. Royal Bank of Canada reduced their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Truist Financial lifted their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Seven investment 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $344.54.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction 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. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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.