Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 3,800 Shares of Public Storage (NYSE:PSA)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in Public Storage (NYSE:PSA) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,772 shares of the real estate investment trust’s stock after selling 3,800 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Public Storage were worth $11,610,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC raised its position 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 valued at $26,000 after buying an additional 50 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Public Storage in the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new position in Public Storage during the third quarter valued at approximately $38,000. Synergy Asset Management LLC acquired a new position in Public Storage during the fourth quarter valued at approximately $38,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Public Storage during the third quarter worth $55,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PSA shares. Barclays decreased their price target 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. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company dropped their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada decreased 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 report on Friday, November 8th. Finally, Truist Financial upped their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Seven equities research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $341.85.

Public Storage Trading Up 0.1 %

Shares of NYSE PSA opened at $304.30 on Monday. The firm has a 50 day moving average price of $298.12 and a two-hundred day moving average price of $325.59. The stock has a market cap of $53.29 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74. Public Storage has a 52-week low of $256.31 and a 52-week 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.

Insider Buying and Selling

In related 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 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 trade represents a 15.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 11.00% of the stock is currently owned by insiders.

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.