C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys New Stake in Public Storage (NYSE:PSA)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Public Storage (NYSE:PSA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,233 shares of the real estate investment trust’s stock, valued at approximately $1,268,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PSA. Quent Capital LLC raised its holdings in shares of Public Storage by 135.1% in 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 during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Public Storage during the third quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Public Storage during the third quarter valued at $38,000. Synergy Asset Management LLC purchased a new stake in Public Storage during the 4th quarter valued at about $38,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Public Storage in the third quarter valued at about $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PSA. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada cut 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. Wells Fargo & Company cut 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. Barclays cut 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. Finally, Truist Financial increased 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. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $344.54.

Public Storage Stock Down 0.2 %

Public Storage stock opened at $296.77 on Wednesday. The firm has a market cap of $51.97 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74. The business’s 50-day moving average price is $299.25 and its 200 day moving average price is $325.74. 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 52 week low of $256.31 and a 52 week high of $369.99.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the transaction, the insider now owns 2,364 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 11.10% of the stock is currently owned by company insiders.

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.