Sterling Investment Advisors Ltd. Has $936,000 Stake in Public Storage (NYSE:PSA)

Sterling Investment Advisors Ltd. boosted its position in shares of Public Storage (NYSE:PSA) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,125 shares of the real estate investment trust’s stock after acquiring an additional 150 shares during the quarter. Sterling Investment Advisors Ltd.’s holdings in Public Storage were worth $936,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Amalgamated Bank raised its position in shares of Public Storage by 2.5% in the fourth quarter. Amalgamated Bank now owns 32,870 shares of the real estate investment trust’s stock valued at $9,843,000 after purchasing an additional 797 shares during the period. Bank of New York Mellon Corp grew its stake in Public Storage by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,097,640 shares of the real estate investment trust’s stock worth $328,677,000 after buying an additional 21,165 shares in the last quarter. Fairhaven Wealth Management LLC grew its stake in Public Storage by 0.8% during the fourth quarter. Fairhaven Wealth Management LLC now owns 9,140 shares of the real estate investment trust’s stock worth $2,737,000 after buying an additional 71 shares in the last quarter. IFP Advisors Inc grew its stake in Public Storage by 8.5% during the fourth quarter. IFP Advisors Inc now owns 2,684 shares of the real estate investment trust’s stock worth $804,000 after buying an additional 210 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Public Storage during the fourth quarter worth about $6,335,000. 78.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PSA. Wells Fargo & Company reduced their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday. Truist Financial raised their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Royal Bank of Canada dropped their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Barclays dropped their price objective on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. 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. Based on data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and a consensus target price of $341.85.

Public Storage Stock Performance

Shares of PSA stock opened at $302.33 on Tuesday. The stock has a fifty day moving average of $297.86 and a 200 day moving average of $325.51. The firm has a market capitalization of $52.94 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 4.91 and a beta of 0.74. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $4.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.23 by ($0.02). Public Storage had a net margin of 40.54% and a return on equity of 34.07%. As a group, research analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Insider Transactions at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 2,364 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 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.