Public Storage (NYSE:PSA) Shares Bought by Truist Financial Corp

Truist Financial Corp raised its holdings in Public Storage (NYSE:PSA) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,629 shares of the real estate investment trust’s stock after acquiring an additional 71 shares during the quarter. Truist Financial Corp’s holdings in Public Storage were worth $9,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Signaturefd LLC lifted its stake in Public Storage by 5.7% during the third quarter. Signaturefd LLC now owns 1,517 shares of the real estate investment trust’s stock valued at $552,000 after buying an additional 82 shares in the last quarter. Private Advisor Group LLC lifted its stake in Public Storage by 13.3% during the third quarter. Private Advisor Group LLC now owns 5,849 shares of the real estate investment trust’s stock valued at $2,128,000 after buying an additional 688 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Public Storage by 24.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,921 shares of the real estate investment trust’s stock valued at $1,791,000 after buying an additional 975 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Public Storage by 12.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,709 shares of the real estate investment trust’s stock valued at $1,713,000 after buying an additional 535 shares in the last quarter. Finally, Dakota Wealth Management purchased a new stake in Public Storage during the third quarter valued at about $217,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank of Canada reduced their price objective on shares of 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. 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 research note on Friday, January 10th. Wells Fargo & Company dropped their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday. Barclays dropped their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Truist Financial upped their target price on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Seven investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $341.85.

Public Storage Trading Up 0.1 %

NYSE:PSA opened at $304.30 on Friday. The stock’s 50 day moving average price is $298.12 and its 200 day moving average price is $325.39. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The company has a market capitalization of $53.29 billion, a P/E ratio of 31.60, a P/E/G 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.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 11.00% of the stock is currently owned by corporate insiders.

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.