984 Shares in Public Storage (NYSE:PSA) Purchased by Asset Planning Inc

Asset Planning Inc purchased a new stake in shares of Public Storage (NYSE:PSA) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 984 shares of the real estate investment trust’s stock, valued at approximately $295,000.

A number of other institutional investors also recently bought and sold shares of PSA. Exchange Traded Concepts LLC boosted its stake in Public Storage by 4.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,953 shares of the real estate investment trust’s stock worth $711,000 after purchasing an additional 85 shares during the last quarter. CX Institutional boosted its stake in Public Storage by 6.9% during the 3rd quarter. CX Institutional now owns 790 shares of the real estate investment trust’s stock worth $287,000 after purchasing an additional 51 shares during the last quarter. Creative Planning boosted its stake in Public Storage by 13.1% during the 3rd quarter. Creative Planning now owns 21,985 shares of the real estate investment trust’s stock worth $8,000,000 after purchasing an additional 2,550 shares during the last quarter. NBC Securities Inc. boosted its stake in Public Storage by 51.3% during the 3rd quarter. NBC Securities Inc. now owns 422 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 143 shares during the last quarter. Finally, Sumitomo Life Insurance Co. boosted its stake in Public Storage by 2.6% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 3,709 shares of the real estate investment trust’s stock worth $1,350,000 after purchasing an additional 94 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Up 0.4 %

PSA stock opened at $301.37 on Friday. The company’s 50 day moving average price is $301.98 and its 200 day moving average price is $325.71. The firm has a market capitalization of $52.77 billion, a price-to-earnings ratio of 31.29, 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. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares in the company, 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 SEC, which can be accessed through this hyperlink. Company insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PSA. 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 research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial boosted their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada decreased 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 research report on Friday, November 8th. Finally, Wells Fargo & Company decreased their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $344.54.

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.