Public Storage (NYSE:PSA) Holdings Cut by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lowered its holdings in Public Storage (NYSE:PSA) by 74.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,283 shares of the real estate investment trust’s stock after selling 3,823 shares during the period. Concurrent Investment Advisors LLC’s holdings in Public Storage were worth $384,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Quent Capital LLC raised its holdings in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 50 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Public Storage during the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Public Storage during the third quarter valued at approximately $38,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage during the fourth quarter valued at approximately $38,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Public Storage during the third quarter valued at approximately $55,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 0.6 %

Public Storage stock opened at $302.33 on Tuesday. 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 firm has a market cap of $52.94 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The firm’s 50 day moving average price is $297.86 and its two-hundred day moving average price is $325.51.

Public Storage (NYSE:PSA) last posted its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $4.21 earnings per share (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, research analysts predict that Public Storage will post 16.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Barclays cut their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Truist Financial lifted their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Royal Bank of Canada cut 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. Finally, Wells Fargo & Company lowered their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday. Seven 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $341.85.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction that occurred 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 transaction, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 11.00% 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.