Public Storage (NYSE:PSA) Stock Position Raised by Stiles Financial Services Inc

Stiles Financial Services Inc boosted its position in shares of Public Storage (NYSE:PSA) by 5.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,749 shares of the real estate investment trust’s stock after purchasing an additional 531 shares during the period. Public Storage accounts for 1.1% of Stiles Financial Services Inc’s investment portfolio, making the stock its 28th biggest holding. Stiles Financial Services Inc’s holdings in Public Storage were worth $2,919,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PSA. State Street Corp raised its position in Public Storage by 0.5% during the third quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust’s stock valued at $3,773,571,000 after buying an additional 55,123 shares during the period. FMR LLC grew its stake in Public Storage by 20.9% during the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock valued at $1,828,763,000 after acquiring an additional 869,066 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Public Storage by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust’s stock valued at $1,425,941,000 after purchasing an additional 52,807 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Public Storage by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock worth $1,023,080,000 after purchasing an additional 54,992 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Public Storage by 732.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock worth $561,763,000 after purchasing an additional 1,358,493 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction dated 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 sale, the insider now directly 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.00% of the company’s stock.

Public Storage Trading Down 0.1 %

NYSE:PSA opened at $302.48 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The company’s 50 day moving average is $304.09 and its 200-day moving average is $325.59. The firm has a market cap of $52.97 billion, a price-to-earnings ratio of 31.41, a P/E/G ratio of 4.88 and a beta of 0.74. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PSA. Deutsche Bank Aktiengesellschaft upgraded 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 cut their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Barclays lowered their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada cut their price target on 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. Finally, Truist Financial boosted their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. 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. Based on data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

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.