Guidance Capital Inc. Raises Stock Position in Public Storage (NYSE:PSA)

Guidance Capital Inc. grew its holdings in shares of Public Storage (NYSE:PSA) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,178 shares of the real estate investment trust’s stock after buying an additional 167 shares during the quarter. Guidance Capital Inc.’s holdings in Public Storage were worth $636,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PSA. Prospera Private Wealth LLC purchased a new stake in shares of Public Storage in the third quarter valued at $34,000. Ashton Thomas Securities LLC bought a new stake in Public Storage in the third quarter worth about $38,000. Synergy Asset Management LLC purchased a new position in shares of Public Storage during the fourth quarter valued at approximately $38,000. Compagnie Lombard Odier SCmA bought a new position in shares of Public Storage during the third quarter valued at approximately $50,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Public Storage in the third quarter worth approximately $55,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 0.4 %

Public Storage stock opened at $296.99 on Wednesday. The business’s 50-day moving average price is $308.02 and its 200 day moving average price is $325.80. 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 firm has a market cap of $52.01 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Analyst Upgrades and Downgrades

Several brokerages have commented on PSA. Wells Fargo & Company cut their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial lifted their price objective on shares of 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 dropped their target price on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Finally, Barclays lowered their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $344.54.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 450 shares of the company’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 transaction, the insider now owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 11.10% of the company’s stock.

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.