WD Rutherford LLC Purchases 1,059 Shares of Public Storage (NYSE:PSA)

WD Rutherford LLC lifted its position in shares of Public Storage (NYSE:PSA) by 21.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,951 shares of the real estate investment trust’s stock after acquiring an additional 1,059 shares during the quarter. WD Rutherford LLC’s holdings in Public Storage were worth $1,782,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PSA. Exchange Traded Concepts LLC increased its stake in shares of Public Storage by 4.6% in the third quarter. Exchange Traded Concepts LLC now owns 1,953 shares of the real estate investment trust’s stock worth $711,000 after purchasing an additional 85 shares in the last quarter. Creative Planning grew its stake in Public Storage by 13.1% in the 3rd quarter. Creative Planning now owns 21,985 shares of the real estate investment trust’s stock valued at $8,000,000 after buying an additional 2,550 shares in the last quarter. NBC Securities Inc. raised its holdings in Public Storage by 51.3% during the 3rd quarter. NBC Securities Inc. now owns 422 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 143 shares during the period. Bleakley Financial Group LLC raised its holdings in Public Storage by 6.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 1,393 shares of the real estate investment trust’s stock valued at $507,000 after acquiring an additional 79 shares during the period. Finally, Secure Asset Management LLC purchased a new stake in shares of Public Storage during the third quarter worth $212,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and boosted their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial upped their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada cut their price objective on shares of 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. Barclays decreased their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Wells Fargo & Company cut their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and a consensus target price of $344.54.

Public Storage Stock Down 1.2 %

PSA opened at $297.69 on Friday. The business’s fifty day simple moving average is $300.63 and its 200 day simple moving average is $325.50. Public Storage has a 52 week low of $256.31 and a 52 week 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 $52.13 billion, a PE ratio of 30.91, a P/E/G ratio of 4.88 and a beta of 0.74.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 11.00% of the company’s stock.

About Public Storage

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.