Howard Capital Management Inc. Purchases 54 Shares of Public Storage (NYSE:PSA)

Howard Capital Management Inc. raised its holdings in shares of Public Storage (NYSE:PSA) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,045 shares of the real estate investment trust’s stock after buying an additional 54 shares during the period. Howard Capital Management Inc.’s holdings in Public Storage were worth $313,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PSA. Private Advisor Group LLC boosted its position in Public Storage by 13.3% during the third quarter. Private Advisor Group LLC now owns 5,849 shares of the real estate investment trust’s stock valued at $2,128,000 after buying an additional 688 shares during the period. Assenagon Asset Management S.A. boosted its position in Public Storage by 12.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,709 shares of the real estate investment trust’s stock valued at $1,713,000 after buying an additional 535 shares during the period. Dakota Wealth Management purchased a new stake in Public Storage during the third quarter valued at about $217,000. Ballentine Partners LLC purchased a new stake in Public Storage during the third quarter valued at about $286,000. Finally, Allworth Financial LP boosted its position in Public Storage by 1.6% during the third quarter. Allworth Financial LP now owns 7,098 shares of the real estate investment trust’s stock valued at $2,583,000 after buying an additional 112 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company cut their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and increased their target price for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial increased 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 dropped their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Royal Bank of Canada dropped their target price on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. 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. Based on data from MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and an average price target of $341.85.

Public Storage Stock Performance

Shares of PSA opened at $302.33 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a 50-day simple moving average of $297.86 and a two-hundred day simple moving average of $325.51. The firm has a market capitalization of $52.94 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74.

Public Storage (NYSE:PSA) last issued its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $4.21 EPS for the quarter, missing the consensus estimate of $4.23 by ($0.02). Public Storage had a return on equity of 34.07% and a net margin of 40.54%. On average, analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

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.