Entropy Technologies LP Takes Position in Public Storage (NYSE:PSA)

Entropy Technologies LP purchased a new stake in Public Storage (NYSE:PSA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,113 shares of the real estate investment trust’s stock, valued at approximately $3,328,000.

A number of other hedge funds also recently made changes to their positions in PSA. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage in the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage in the 3rd quarter valued at approximately $38,000. Synergy Asset Management LLC acquired a new stake in Public Storage during the 4th quarter worth approximately $38,000. Compagnie Lombard Odier SCmA acquired a new stake in Public Storage during the 3rd quarter worth approximately $50,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Public Storage during the 3rd quarter worth approximately $55,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PSA. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Evercore ISI cut their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Wells Fargo & Company cut their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research 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 research report on Monday, January 13th. Finally, Truist Financial boosted their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and a consensus target price of $344.54.

Public Storage Stock Performance

NYSE:PSA opened at $302.48 on Friday. The company has a fifty day moving average of $304.09 and a 200-day moving average of $325.42. The firm has a market capitalization of $52.97 billion, a P/E ratio of 31.41, a P/E/G ratio of 4.88 and a beta of 0.74. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99.

Insider Buying and Selling at Public Storage

In other Public Storage 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 transaction of $143,095.50. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.00% of the stock is currently owned by company insiders.

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.