Kentucky Retirement Systems Insurance Trust Fund Has $1.53 Million Stock Holdings in Public Storage (NYSE:PSA)

Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Public Storage (NYSE:PSA) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,118 shares of the real estate investment trust’s stock after buying an additional 454 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Public Storage were worth $1,533,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC grew its position in Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Public Storage during the third quarter worth about $34,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage during the third quarter valued at approximately $38,000. Synergy Asset Management LLC acquired a new stake in Public Storage during the fourth quarter valued at approximately $38,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Public Storage during the third quarter valued at approximately $55,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Performance

PSA stock opened at $296.77 on Wednesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50 day moving average price of $299.25 and a 200 day moving average price of $325.74. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The stock has a market capitalization of $51.97 billion, a PE ratio of 30.82, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 11.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Barclays decreased their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Truist Financial lifted their price objective on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company decreased their price objective 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, Royal Bank of Canada decreased their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Seven investment 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. Based on data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $344.54.

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.