Highview Capital Management LLC DE Acquires 140 Shares of Public Storage (NYSE:PSA)

Highview Capital Management LLC DE increased its holdings in Public Storage (NYSE:PSA) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,107 shares of the real estate investment trust’s stock after purchasing an additional 140 shares during the quarter. Highview Capital Management LLC DE’s holdings in Public Storage were worth $1,230,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PSA. Quent Capital LLC lifted its position in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 50 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Public Storage in the third quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage in the third quarter valued at about $38,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage in the fourth quarter worth approximately $38,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Public Storage in the third quarter valued at about $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PSA. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and upped their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial raised their target price 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 lowered 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. 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 on the stock in a research report on Friday, November 8th. Finally, Wells Fargo & Company cut their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Insiders Place Their Bets

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

Public Storage Stock Performance

Public Storage stock opened at $297.69 on Monday. The stock’s 50 day moving average price is $300.63 and its 200 day moving average price is $325.65. 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 firm has a market capitalization of $52.13 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 4.88 and a beta of 0.74. Public Storage has a one year low of $256.31 and a one year high of $369.99.

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.