Avidian Wealth Enterprises LLC Has $1.02 Million Stock Position in Public Storage (NYSE:PSA)

Avidian Wealth Enterprises LLC grew its stake in shares of Public Storage (NYSE:PSA) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,399 shares of the real estate investment trust’s stock after purchasing an additional 221 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Public Storage were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC raised its holdings in shares of Public Storage by 135.1% in 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 during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage in the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage in the 3rd quarter worth about $38,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage in the 4th quarter worth about $38,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Public Storage in the 3rd quarter worth about $55,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Truist Financial upped their target price on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Barclays lowered their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company reduced 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 report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Seven equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Public Storage Stock Down 1.7 %

Public Storage stock opened at $300.13 on Thursday. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The firm has a 50 day moving average price of $302.67 and a 200-day moving average price of $325.89. The company has a market capitalization of $52.56 billion, a P/E ratio of 31.17, a P/E/G ratio of 4.88 and a beta of 0.74. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

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.