Public Storage (NYSE:PSA) Position Raised by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC boosted its position in Public Storage (NYSE:PSA) by 51.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,897 shares of the real estate investment trust’s stock after purchasing an additional 645 shares during the period. AlphaStar Capital Management LLC’s holdings in Public Storage were worth $568,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PSA. Entropy Technologies LP bought a new position in Public Storage during the fourth quarter valued at about $3,328,000. Empowered Funds LLC boosted its position in shares of Public Storage by 11.2% during the 4th quarter. Empowered Funds LLC now owns 2,813 shares of the real estate investment trust’s stock valued at $842,000 after purchasing an additional 283 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of Public Storage by 10.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,436 shares of the real estate investment trust’s stock valued at $1,328,000 after purchasing an additional 406 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in shares of Public Storage by 4.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 1,090 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 44 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its stake in Public Storage by 208.1% during the fourth quarter. Apollon Wealth Management LLC now owns 5,201 shares of the real estate investment trust’s stock valued at $1,557,000 after purchasing an additional 3,513 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on PSA. Barclays decreased their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Truist Financial boosted their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and increased their price target for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada cut their price objective on 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, Evercore ISI reduced their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $344.54.

Public Storage Trading Down 0.1 %

Public Storage stock opened at $302.48 on Friday. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market cap of $52.97 billion, a P/E ratio of 31.41, a P/E/G ratio of 4.88 and a beta of 0.74. The company’s fifty day simple moving average is $304.09 and its 200-day simple moving average is $325.42.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction that occurred 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 sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.00% of the company’s stock.

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.