Atria Wealth Solutions Inc. Has $1.54 Million Stake in Public Storage (NYSE:PSA)

Atria Wealth Solutions Inc. lowered its position in Public Storage (NYSE:PSA) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,132 shares of the real estate investment trust’s stock after selling 89 shares during the period. Atria Wealth Solutions Inc.’s holdings in Public Storage were worth $1,537,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSA. Quent Capital LLC raised its position in shares of Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Prospera Private Wealth LLC bought a new position in Public Storage in the 3rd quarter worth $34,000. Ashton Thomas Securities LLC bought a new position in Public Storage in the 3rd quarter worth $38,000. Synergy Asset Management LLC acquired a new position in Public Storage during the 4th quarter worth $38,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Public Storage during the third quarter valued at about $55,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PSA. Truist Financial increased their target price on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Barclays lowered their price objective on shares of 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 target price 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 upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Wells Fargo & Company cut their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $341.85.

Public Storage Price Performance

NYSE:PSA opened at $304.30 on Monday. The company has a market cap of $53.29 billion, a P/E ratio of 31.60, a P/E/G ratio of 4.91 and a beta of 0.74. The firm’s fifty day moving average price is $298.12 and its two-hundred day moving average price is $325.59. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Insider Buying and Selling

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

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.