Forsta AP Fonden Decreases Stock Position in Public Storage (NYSE:PSA)

Forsta AP Fonden cut its position in Public Storage (NYSE:PSA) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,000 shares of the real estate investment trust’s stock after selling 200 shares during the period. Forsta AP Fonden’s holdings in Public Storage were worth $9,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PSA. Petredis Investment Advisors LLC boosted its stake in Public Storage by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock worth $2,497,000 after purchasing an additional 30 shares during the last quarter. S.A. Mason LLC lifted its stake in shares of Public Storage by 3.8% in the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock worth $300,000 after buying an additional 30 shares in the last quarter. Haverford Trust Co boosted its position in Public Storage by 0.7% during the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock worth $1,558,000 after acquiring an additional 30 shares during the last quarter. Huntington National Bank grew its stake in Public Storage by 5.4% during the 3rd quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 33 shares in the last quarter. Finally, Chesapeake Wealth Management raised its holdings in Public Storage by 2.2% in the 3rd quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock valued at $560,000 after acquiring an additional 33 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada reduced their target price 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. Truist Financial increased their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Finally, Barclays lowered their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $344.54.

Public Storage Trading Up 1.3 %

Shares of NYSE:PSA opened at $298.11 on Friday. The company has a market cap of $52.20 billion, a PE ratio of 30.96, a P/E/G ratio of 4.68 and a beta of 0.74. The company’s 50 day moving average is $310.63 and its two-hundred day moving average is $325.82. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. 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 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.