Forte Capital LLC ADV Sells 853 Shares of Public Storage (NYSE:PSA)

Forte Capital LLC ADV decreased its stake in shares of Public Storage (NYSE:PSA) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,247 shares of the real estate investment trust’s stock after selling 853 shares during the quarter. Forte Capital LLC ADV’s holdings in Public Storage were worth $2,470,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. ING Groep NV bought a new position in shares of Public Storage during the fourth quarter worth $6,027,000. Pacific Sun Financial Corp lifted its position in Public Storage by 24.1% during the fourth quarter. Pacific Sun Financial Corp now owns 767 shares of the real estate investment trust’s stock valued at $230,000 after purchasing an additional 149 shares during the last quarter. Handelsbanken Fonder AB lifted its position in Public Storage by 14.2% during the fourth quarter. Handelsbanken Fonder AB now owns 83,094 shares of the real estate investment trust’s stock valued at $24,882,000 after purchasing an additional 10,353 shares during the last quarter. Pasadena Private Wealth LLC lifted its position in Public Storage by 8.0% during the fourth quarter. Pasadena Private Wealth LLC now owns 1,769 shares of the real estate investment trust’s stock valued at $530,000 after purchasing an additional 131 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management lifted its position in Public Storage by 1.7% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 2,275 shares of the real estate investment trust’s stock valued at $681,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PSA. Wells Fargo & Company lowered 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. Royal Bank of Canada reduced 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. Barclays cut 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. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Truist Financial lifted their target price on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Seven 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 company. According to data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $344.54.

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 transaction of $143,095.50. Following the sale, the insider now owns 2,364 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 11.00% of the stock is currently owned by corporate insiders.

Public Storage Trading Up 2.1 %

NYSE PSA opened at $303.67 on Friday. The firm’s 50-day moving average is $298.38 and its two-hundred day moving average is $325.39. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. 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 stock has a market capitalization of $53.18 billion, a P/E ratio of 31.53, a PEG ratio of 4.80 and a beta of 0.74.

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.