Kentucky Retirement Systems Lowers Position in Public Storage (NYSE:PSA)

Kentucky Retirement Systems decreased its stake in Public Storage (NYSE:PSA) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,824 shares of the real estate investment trust’s stock after selling 149 shares during the period. Kentucky Retirement Systems’ holdings in Public Storage were worth $3,241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Quent Capital LLC increased its holdings 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 worth $26,000 after acquiring an additional 50 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Public Storage in the third quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Public Storage in the third quarter worth $38,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage during the 4th quarter valued at $38,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage during the 3rd quarter valued at $55,000. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PSA. Barclays decreased their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada decreased 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. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and boosted their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial increased their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Finally, Wells Fargo & Company lowered their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $341.85.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the sale, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.00% of the stock is owned by company insiders.

Public Storage Trading Up 0.1 %

PSA stock opened at $304.30 on Friday. The firm has a fifty day moving average price of $298.12 and a 200 day moving average price of $325.39. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The firm has a market cap of $53.29 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

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.