Public Storage (NYSE:PSA) Shares Purchased by abrdn plc

abrdn plc raised its stake in Public Storage (NYSE:PSA) by 3.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 251,433 shares of the real estate investment trust’s stock after buying an additional 8,496 shares during the quarter. abrdn plc owned approximately 0.14% of Public Storage worth $74,657,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in Public Storage during the 2nd quarter valued at about $2,442,000. Czech National Bank raised its holdings in shares of Public Storage by 6.5% during the third quarter. Czech National Bank now owns 32,087 shares of the real estate investment trust’s stock valued at $11,675,000 after buying an additional 1,950 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Public Storage by 38.4% during the third quarter. GAMMA Investing LLC now owns 1,532 shares of the real estate investment trust’s stock worth $557,000 after buying an additional 425 shares during the period. Diversified Trust Co grew its holdings in Public Storage by 774.0% in the 3rd quarter. Diversified Trust Co now owns 7,429 shares of the real estate investment trust’s stock worth $2,703,000 after buying an additional 6,579 shares in the last quarter. Finally, Miracle Mile Advisors LLC acquired a new stake in Public Storage in the 3rd quarter valued at approximately $283,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PSA. Evercore ISI reduced their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Barclays reduced their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Truist Financial lifted their target price 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. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and increased their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Royal Bank of Canada lowered their price target 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. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $344.54.

Public Storage Trading Up 0.4 %

NYSE:PSA opened at $296.99 on Wednesday. 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 company has a market capitalization of $52.01 billion, a P/E ratio of 30.84, a P/E/G ratio of 4.81 and a beta of 0.74. The stock’s 50 day moving average price is $308.02 and its 200 day moving average price is $325.80. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was 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 owns 2,364 shares of the company’s stock, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.10% of the stock is currently owned by company 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.