Sanctuary Advisors LLC Sells 478 Shares of Public Storage (NYSE:PSA)

Sanctuary Advisors LLC lowered its holdings in shares of Public Storage (NYSE:PSA) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,026 shares of the real estate investment trust’s stock after selling 478 shares during the quarter. Sanctuary Advisors LLC’s holdings in Public Storage were worth $3,584,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. S.A. Mason LLC raised its holdings in Public Storage by 3.8% during the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock valued at $300,000 after buying an additional 30 shares in the last quarter. Haverford Trust Co increased its holdings in shares of Public Storage by 0.7% during the 3rd quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock valued at $1,558,000 after acquiring an additional 30 shares during the last quarter. Huntington National Bank raised its stake in shares of Public Storage by 5.4% in the 3rd quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 33 shares in the last quarter. Chesapeake Wealth Management lifted its holdings in Public Storage by 2.2% in the 3rd quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock worth $560,000 after purchasing an additional 33 shares during the last quarter. Finally, Lindenwold Advisors INC boosted its position in Public Storage by 0.8% during the third quarter. Lindenwold Advisors INC now owns 4,390 shares of the real estate investment trust’s stock worth $1,597,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank of Canada dropped their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company dropped their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday. Truist Financial upped their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Barclays dropped their price objective 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, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and boosted their price objective 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $341.85.

Insider Buying and Selling

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

Public Storage Price Performance

Shares of NYSE:PSA opened at $304.30 on Friday. The firm has a market capitalization of $53.29 billion, a PE ratio of 31.60, a PEG ratio of 4.80 and a beta of 0.74. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The business’s 50 day moving average is $298.12 and its 200-day moving average is $325.39.

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.