Public Storage (NYSE:PSA) Position Boosted by Empowered Funds LLC

Empowered Funds LLC grew its holdings in shares of Public Storage (NYSE:PSA) by 11.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,813 shares of the real estate investment trust’s stock after acquiring an additional 283 shares during the quarter. Empowered Funds LLC’s holdings in Public Storage were worth $842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in Public Storage during the third quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new position in shares of Public Storage during the 3rd quarter valued at about $38,000. Synergy Asset Management LLC acquired a new position in shares of Public Storage in the 4th quarter worth approximately $38,000. Harbor Capital Advisors Inc. acquired a new stake in Public Storage during the third quarter valued at approximately $55,000. Finally, Toth Financial Advisory Corp lifted its stake in Public Storage by 48.2% during the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction on 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 owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.00% of the stock is owned by insiders.

Public Storage Trading Down 1.2 %

NYSE:PSA opened at $297.69 on Tuesday. The company’s 50 day moving average is $300.63 and its 200-day moving average is $325.86. 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 has a 12 month low of $256.31 and a 12 month high of $369.99. The firm has a market cap of $52.13 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 4.88 and a beta of 0.74.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PSA. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Barclays dropped 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. 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 for the company in a research report on Friday, November 8th. Wells Fargo & Company lowered their price objective 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, Truist Financial lifted their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Seven 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $344.54.

Public Storage 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.