Public Storage (NYSE:PSA) Position Trimmed by Capital Management Associates Inc

Capital Management Associates Inc lessened its holdings in Public Storage (NYSE:PSA) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,918 shares of the real estate investment trust’s stock after selling 225 shares during the period. Public Storage accounts for about 0.9% of Capital Management Associates Inc’s investment portfolio, making the stock its 20th biggest holding. Capital Management Associates Inc’s holdings in Public Storage were worth $2,371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSA. Petredis Investment Advisors LLC increased its position in shares of Public Storage by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock worth $2,497,000 after purchasing an additional 30 shares in the last quarter. S.A. Mason LLC increased its holdings in shares of Public Storage by 3.8% in the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 30 shares in the last quarter. Haverford Trust Co lifted its position in Public Storage by 0.7% in the 3rd quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock valued at $1,558,000 after acquiring an additional 30 shares in the last quarter. Huntington National Bank boosted its position in Public Storage by 5.4% during the 3rd quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 33 shares during the last quarter. Finally, Chesapeake Wealth Management grew its holdings in shares of Public Storage by 2.2% in the 3rd quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock valued at $560,000 after acquiring an additional 33 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PSA shares. Evercore ISI dropped their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial raised their price objective 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 reduced their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada reduced their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Public Storage presently has an average rating of “Moderate Buy” and a consensus price target of $344.54.

Public Storage Price Performance

Public Storage stock opened at $302.48 on Friday. The stock has a market cap of $52.97 billion, a P/E ratio of 31.41, a P/E/G ratio of 4.88 and a beta of 0.74. 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 price is $305.00 and its two-hundred day moving average price is $325.44. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction on 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. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 11.00% of the company’s stock.

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.