Quotient Wealth Partners LLC Reduces Stake in Public Storage (NYSE:PSA)

Quotient Wealth Partners LLC reduced its stake in shares of Public Storage (NYSE:PSA) by 23.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,001 shares of the real estate investment trust’s stock after selling 312 shares during the period. Quotient Wealth Partners LLC’s holdings in Public Storage were worth $300,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new stake in Public Storage in the third quarter worth $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage in the 3rd quarter worth about $38,000. Synergy Asset Management LLC bought a new stake in Public Storage in the 4th quarter valued at about $38,000. Compagnie Lombard Odier SCmA purchased a new stake in Public Storage during the third quarter valued at about $50,000. Finally, Harbor Capital Advisors Inc. bought a new position in Public Storage during the third quarter worth about $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PSA shares. Wells Fargo & Company decreased their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Evercore ISI decreased 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 note on Monday, October 14th. Royal Bank of Canada lowered their target price 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 lifted 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. Seven 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $344.54.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage 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 transaction, the insider now directly owns 2,364 shares of the company’s stock, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.00% of the company’s stock.

Public Storage Price Performance

Shares of NYSE PSA opened at $302.48 on Monday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a fifty day moving average of $304.09 and a 200 day moving average of $325.59. The firm has a market cap of $52.97 billion, a PE ratio of 31.41, a PEG ratio of 4.88 and a beta of 0.74. Public Storage has a one year low of $256.31 and a one year high of $369.99.

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.