Public Storage (NYSE:PSA) Stake Boosted by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its stake in Public Storage (NYSE:PSA) by 66.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,526 shares of the real estate investment trust’s stock after purchasing an additional 1,010 shares during the period. Summit Trail Advisors LLC’s holdings in Public Storage were worth $756,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in Public Storage in the third quarter worth $34,000. Ashton Thomas Securities LLC bought a new position in shares of Public Storage during the third quarter worth about $38,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage in the 4th quarter worth about $38,000. Harbor Capital Advisors Inc. bought a new stake in Public Storage in the 3rd quarter valued at about $55,000. Finally, Toth Financial Advisory Corp boosted its stake in Public Storage by 48.2% during the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 66 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

Shares of Public Storage stock opened at $305.26 on Wednesday. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. 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 stock has a market cap of $53.45 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 4.88 and a beta of 0.74. The company’s 50-day moving average price is $303.28 and its two-hundred day moving average price is $325.86.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PSA shares. Royal Bank of Canada dropped their price target 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. Truist Financial lifted their target price on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and boosted their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company lowered their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Barclays reduced their price objective on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $344.54.

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.