Cape ANN Savings Bank Sells 85 Shares of Public Storage (NYSE:PSA)

Cape ANN Savings Bank lessened its stake in shares of Public Storage (NYSE:PSA) by 3.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,700 shares of the real estate investment trust’s stock after selling 85 shares during the period. Cape ANN Savings Bank’s holdings in Public Storage were worth $808,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC boosted its position in shares of Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Public Storage during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new position in Public Storage in the third quarter worth approximately $38,000. Synergy Asset Management LLC acquired a new stake in Public Storage in the fourth quarter valued at approximately $38,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Public Storage during the third quarter valued at approximately $55,000. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Up 0.1 %

PSA opened at $304.30 on Monday. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The company has a market cap of $53.29 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a 50 day moving average of $298.12 and a 200 day moving average of $325.59.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Barclays cut 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. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial boosted their price objective on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company lowered their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday. Finally, Royal Bank of Canada dropped their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Seven 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 company’s stock. According to MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $341.85.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following 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 sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 11.00% of the company’s stock.

Public Storage Company 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.