E. Ohman J or Asset Management AB Purchases 550 Shares of Public Storage (NYSE:PSA)

E. Ohman J or Asset Management AB boosted its holdings in shares of Public Storage (NYSE:PSA) by 8.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,100 shares of the real estate investment trust’s stock after acquiring an additional 550 shares during the period. E. Ohman J or Asset Management AB’s holdings in Public Storage were worth $2,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in shares of Public Storage during the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC bought a new stake in Public Storage during the 3rd quarter valued at $38,000. Synergy Asset Management LLC bought a new stake in Public Storage during the 4th quarter valued at $38,000. Compagnie Lombard Odier SCmA bought a new position in shares of Public Storage in the 3rd quarter worth $50,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Public Storage during the 3rd quarter worth $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PSA. Royal Bank of Canada cut their target price on 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. Evercore ISI cut their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Truist Financial boosted their price objective 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. Barclays lowered their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and upped their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.10% of the company’s stock.

Public Storage Stock Performance

Shares of PSA opened at $296.99 on Wednesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50-day moving average of $308.02 and a two-hundred day moving average of $325.80. The stock has a market cap of $52.01 billion, a P/E ratio of 30.84, a P/E/G ratio of 4.81 and a beta of 0.74. Public Storage has a one year low of $256.31 and a one year high of $369.99.

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.