Greenleaf Trust Increases Stock Position in Public Storage (NYSE:PSA)

Greenleaf Trust increased its stake in shares of Public Storage (NYSE:PSA) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,811 shares of the real estate investment trust’s stock after purchasing an additional 75 shares during the period. Greenleaf Trust’s holdings in Public Storage were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Equity Partners grew its position in Public Storage by 83.2% in the 4th quarter. Golden State Equity Partners now owns 916 shares of the real estate investment trust’s stock worth $274,000 after purchasing an additional 416 shares during the period. Yoder Wealth Management Inc. grew its holdings in shares of Public Storage by 5.4% in the fourth quarter. Yoder Wealth Management Inc. now owns 804 shares of the real estate investment trust’s stock worth $241,000 after acquiring an additional 41 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Public Storage by 1.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,503 shares of the real estate investment trust’s stock valued at $1,348,000 after acquiring an additional 69 shares during the last quarter. Caprock Group LLC lifted its holdings in Public Storage by 26.5% in the fourth quarter. Caprock Group LLC now owns 3,865 shares of the real estate investment trust’s stock valued at $1,157,000 after acquiring an additional 809 shares during the period. Finally, Cibc World Market Inc. boosted its position in Public Storage by 451.9% in the fourth quarter. Cibc World Market Inc. now owns 69,967 shares of the real estate investment trust’s stock worth $20,951,000 after purchasing an additional 57,290 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on PSA shares. Wells Fargo & Company reduced their price target 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. Barclays reduced their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Evercore ISI dropped their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Truist Financial upped their price objective on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded 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 report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 11.10% of the company’s stock.

Public Storage Stock Up 0.4 %

Shares of PSA opened at $296.99 on Wednesday. The business’s 50 day moving average is $308.02 and its 200 day moving average is $325.80. The company has a current ratio of 0.97, a quick 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 company has a market capitalization of $52.01 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 4.81 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.