Yousif Capital Management LLC Reduces Stock Position in Public Storage (NYSE:PSA)

Yousif Capital Management LLC lessened its holdings in shares of Public Storage (NYSE:PSA) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,606 shares of the real estate investment trust’s stock after selling 1,000 shares during the period. Yousif Capital Management LLC’s holdings in Public Storage were worth $7,368,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Guidance Capital Inc. raised its holdings in shares of Public Storage by 8.3% during the fourth quarter. Guidance Capital Inc. now owns 2,178 shares of the real estate investment trust’s stock valued at $636,000 after acquiring an additional 167 shares in the last quarter. E. Ohman J or Asset Management AB lifted its position in shares of Public Storage by 8.4% in the 4th quarter. E. Ohman J or Asset Management AB now owns 7,100 shares of the real estate investment trust’s stock worth $2,126,000 after purchasing an additional 550 shares during the period. Flavin Financial Services Inc. bought a new stake in shares of Public Storage during the 4th quarter valued at about $538,000. Columbus Macro LLC increased its position in shares of Public Storage by 419.5% during the fourth quarter. Columbus Macro LLC now owns 21,404 shares of the real estate investment trust’s stock valued at $6,409,000 after buying an additional 17,284 shares during the period. Finally, abrdn plc raised its stake in Public Storage by 3.5% in the fourth quarter. abrdn plc now owns 251,433 shares of the real estate investment trust’s stock worth $74,657,000 after buying an additional 8,496 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Truist Financial upped their price target on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company lowered their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Barclays reduced their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Evercore ISI lowered their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and an average target price of $344.54.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 450 shares of the firm’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 sale, the insider now owns 2,364 shares of the company’s stock, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 11.00% of the company’s stock.

Public Storage Stock Performance

PSA stock opened at $302.13 on Thursday. The stock has a market capitalization of $52.91 billion, a PE ratio of 31.37, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. The stock’s 50 day simple moving average is $306.96 and its 200 day simple moving average is $325.76. Public Storage has a 12-month low of $256.31 and a 12-month 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 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.