Public Storage (NYSE:PSA) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV trimmed its position in shares of Public Storage (NYSE:PSA) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,247 shares of the real estate investment trust’s stock after selling 853 shares during the period. Forte Capital LLC ADV’s holdings in Public Storage were worth $2,470,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Creative Planning increased its stake in Public Storage by 13.1% in the third quarter. Creative Planning now owns 21,985 shares of the real estate investment trust’s stock valued at $8,000,000 after purchasing an additional 2,550 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of Public Storage by 4.4% in the third quarter. Whittier Trust Co. now owns 1,868 shares of the real estate investment trust’s stock valued at $680,000 after acquiring an additional 79 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Public Storage by 14.0% in the third quarter. Sequoia Financial Advisors LLC now owns 6,762 shares of the real estate investment trust’s stock valued at $2,460,000 after acquiring an additional 830 shares during the period. Signaturefd LLC boosted its holdings in shares of Public Storage by 5.7% in the third quarter. Signaturefd LLC now owns 1,517 shares of the real estate investment trust’s stock valued at $552,000 after acquiring an additional 82 shares during the period. Finally, Eastern Bank acquired a new stake in shares of Public Storage in the third quarter valued at approximately $557,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Storage

In other 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 value of $143,095.50. Following the completion of the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PSA has been the subject of several research analyst reports. Royal Bank of Canada decreased their price objective 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. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial increased their price target on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company decreased their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Barclays decreased their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average target price of $344.54.

Public Storage Price Performance

Public Storage stock opened at $303.67 on Friday. Public Storage has a one year low of $256.31 and a one year 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. The business has a fifty day moving average of $298.38 and a two-hundred day moving average of $325.39. The company has a market cap of $53.18 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74.

Public Storage Company 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.