JFS Wealth Advisors LLC Sells 40 Shares of Public Storage (NYSE:PSA)

JFS Wealth Advisors LLC lessened its stake in Public Storage (NYSE:PSA) by 11.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 323 shares of the real estate investment trust’s stock after selling 40 shares during the period. JFS Wealth Advisors LLC’s holdings in Public Storage were worth $97,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Public Storage by 5.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock valued at $16,089,000 after purchasing an additional 2,566 shares during the period. Capital Investment Advisors LLC boosted its stake in shares of Public Storage by 25.4% in the 4th quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock valued at $8,566,000 after purchasing an additional 5,793 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Public Storage by 3,714.6% during the third quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock worth $666,000 after buying an additional 1,783 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Public Storage by 1.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock valued at $51,762,000 after buying an additional 2,605 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Public Storage by 114.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock valued at $33,302,000 after acquiring an additional 48,803 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction dated Friday, December 13th. The shares were 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 owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSA. Royal Bank of Canada dropped their price objective on 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. Wells Fargo & Company reduced their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Barclays dropped 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. Truist Financial raised their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Public Storage Stock Down 1.2 %

PSA stock opened at $297.69 on Tuesday. The firm has a market capitalization of $52.13 billion, a PE ratio of 30.91, 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. The stock’s 50 day moving average is $300.63 and its 200-day moving average is $325.86.

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.