Wilmington Savings Fund Society FSB Acquires 406 Shares of Public Storage (NYSE:PSA)

Wilmington Savings Fund Society FSB increased its holdings in shares of Public Storage (NYSE:PSA) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,436 shares of the real estate investment trust’s stock after buying an additional 406 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Public Storage were worth $1,328,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in Public Storage during the 3rd quarter worth $34,000. Ashton Thomas Securities LLC bought a new position in shares of Public Storage in the 3rd quarter worth $38,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage during the fourth quarter worth $38,000. Compagnie Lombard Odier SCmA bought a new stake in Public Storage in the third quarter valued at about $50,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Public Storage in the third quarter valued at about $55,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Down 0.1 %

NYSE:PSA opened at $302.48 on Monday. The stock has a 50-day simple moving average of $304.09 and a 200 day simple moving average of $325.59. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The company has a market cap of $52.97 billion, a PE ratio of 31.41, a PEG ratio of 4.88 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction 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 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 can be accessed through the SEC website. Insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore ISI decreased their target price 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. Wells Fargo & Company decreased their price objective 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. Barclays cut 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. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and boosted their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Truist Financial lifted their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Seven equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $344.54.

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.