Wingate Wealth Advisors Inc. Invests $190,000 in Public Storage (NYSE:PSA)

Wingate Wealth Advisors Inc. purchased a new stake in shares of Public Storage (NYSE:PSA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 636 shares of the real estate investment trust’s stock, valued at approximately $190,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSA. Petredis Investment Advisors LLC raised its holdings in shares of Public Storage by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock worth $2,497,000 after acquiring an additional 30 shares in the last quarter. S.A. Mason LLC raised its stake in Public Storage by 3.8% during the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 30 shares in the last quarter. Haverford Trust Co lifted its position in Public Storage by 0.7% during the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock valued at $1,558,000 after purchasing an additional 30 shares during the last quarter. Huntington National Bank lifted its position in Public Storage by 5.4% during the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 33 shares during the last quarter. Finally, Chesapeake Wealth Management grew its stake in shares of Public Storage by 2.2% in the 3rd quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock worth $560,000 after buying an additional 33 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Down 0.1 %

PSA stock opened at $302.48 on Monday. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The firm’s 50-day moving average is $304.09 and its 200 day moving average is $325.59. The company has a market capitalization of $52.97 billion, a PE ratio of 31.41, a P/E/G ratio of 4.88 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Evercore ISI lowered their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upgraded 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 report on Friday, January 10th. Barclays decreased 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. Finally, Royal Bank of Canada dropped 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 note on Friday, November 8th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $344.54.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction 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 directly owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.00% of the company’s stock.

Public Storage 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.