Allspring Global Investments Holdings LLC Purchases 14,789 Shares of Public Storage (NYSE:PSA)

Allspring Global Investments Holdings LLC raised its position in Public Storage (NYSE:PSA) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,044 shares of the real estate investment trust’s stock after buying an additional 14,789 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.09% of Public Storage worth $46,576,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. S.A. Mason LLC grew its position in shares of Public Storage by 3.8% in the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 30 shares in the last quarter. Haverford Trust Co grew its position in shares of Public Storage by 0.7% in the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock valued at $1,558,000 after purchasing an additional 30 shares in the last quarter. Huntington National Bank grew its position in shares of Public Storage by 5.4% in the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 33 shares in the last quarter. Chesapeake Wealth Management grew its position in shares of Public Storage by 2.2% in the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock valued at $560,000 after purchasing an additional 33 shares in the last quarter. Finally, Lindenwold Advisors INC grew its position in shares of Public Storage by 0.8% in the third quarter. Lindenwold Advisors INC now owns 4,390 shares of the real estate investment trust’s stock valued at $1,597,000 after purchasing an additional 34 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Public Storage Trading Up 0.4 %

Shares of PSA stock opened at $301.37 on Friday. 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 business has a 50-day moving average price of $301.98 and a two-hundred day moving average price of $325.71. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The firm has a market cap of $52.77 billion, a P/E ratio of 31.29, a price-to-earnings-growth ratio of 4.88 and a beta of 0.74.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated 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 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 11.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PSA shares. Wells Fargo & Company reduced their price target 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. Barclays reduced their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada reduced their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and boosted their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and an average price target of $344.54.

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.