Deseret Mutual Benefit Administrators Buys 101 Shares of Public Storage (NYSE:PSA)

Deseret Mutual Benefit Administrators raised its holdings in Public Storage (NYSE:PSA) by 49.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 307 shares of the real estate investment trust’s stock after purchasing an additional 101 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Public Storage were worth $92,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quent Capital LLC raised its position in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Public Storage in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC bought a new position in Public Storage in the 3rd quarter valued at $38,000. Synergy Asset Management LLC bought a new position in Public Storage in the 4th quarter valued at $38,000. Finally, Harbor Capital Advisors Inc. bought a new position in Public Storage in the 3rd quarter valued at $55,000. Institutional investors own 78.79% of the company’s stock.

Insider Buying and Selling

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 transaction of $143,095.50. Following the completion of the sale, the insider now directly owns 2,364 shares of the company’s stock, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.00% of the stock is owned by insiders.

Public Storage Stock Up 0.1 %

Shares of Public Storage stock opened at $304.30 on Friday. 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 12 month low of $256.31 and a 12 month high of $369.99. The business has a fifty day simple moving average of $298.12 and a 200 day simple moving average of $325.48. The stock has a market cap of $53.29 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74.

Analyst Ratings Changes

Several equities analysts have issued reports on PSA shares. Wells Fargo & Company cut their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday. 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 raised Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Royal Bank of Canada lowered their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Finally, Barclays lowered their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Seven investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $341.85.

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.