Allworth Financial LP Purchases 51 Shares of Public Storage (NYSE:PSA)

Allworth Financial LP increased its holdings in Public Storage (NYSE:PSA) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,149 shares of the real estate investment trust’s stock after purchasing an additional 51 shares during the quarter. Allworth Financial LP’s holdings in Public Storage were worth $2,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PSA. Sumitomo Mitsui DS Asset Management Company Ltd increased 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 valued at $16,089,000 after buying an additional 2,566 shares during the period. Larson Financial Group LLC increased its position in Public Storage by 3,714.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock valued at $666,000 after purchasing an additional 1,783 shares during the period. Capital Investment Advisors LLC raised its holdings in Public Storage by 25.4% in the 4th 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Public Storage by 1.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock worth $51,762,000 after purchasing an additional 2,605 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Public Storage by 114.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock valued at $33,302,000 after purchasing an additional 48,803 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 0.2 %

Shares of Public Storage stock opened at $296.77 on Wednesday. The company has a 50-day simple moving average of $299.87 and a two-hundred day simple moving average of $325.85. The stock has a market capitalization of $51.97 billion, a PE ratio of 30.82, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction 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 completion of the sale, the insider now owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on PSA. Royal Bank of Canada lowered 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 report on Friday, November 8th. Wells Fargo & Company dropped their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Barclays reduced their price target 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. Truist Financial raised their price objective on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of 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 report on Friday, January 10th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $344.54.

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.