Golden State Equity Partners Raises Stock Position in Public Storage (NYSE:PSA)

Golden State Equity Partners boosted its holdings in shares of Public Storage (NYSE:PSA) by 83.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 916 shares of the real estate investment trust’s stock after buying an additional 416 shares during the quarter. Golden State Equity Partners’ holdings in Public Storage were worth $274,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in Public Storage during the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC purchased a new position in Public Storage during the third quarter valued at approximately $38,000. Synergy Asset Management LLC purchased a new position in Public Storage during the fourth quarter valued at approximately $38,000. Compagnie Lombard Odier SCmA purchased a new position in Public Storage during the third quarter valued at approximately $50,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Public Storage during the third quarter valued at approximately $55,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on PSA shares. Royal Bank of Canada cut their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Wells Fargo & Company cut their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Evercore ISI cut their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Finally, Truist Financial lifted 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. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and an average price target of $344.54.

Insider Activity at Public Storage

In related 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 transaction, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.10% of the stock is currently owned by insiders.

Public Storage Trading Down 0.9 %

NYSE:PSA opened at $295.84 on Tuesday. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The firm has a fifty day simple moving average of $309.06 and a 200-day simple moving average of $325.85. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $51.81 billion, a P/E ratio of 30.72, a PEG ratio of 4.81 and a beta of 0.74.

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.