Blue Trust Inc. Has $78,000 Position in Public Storage (NYSE:PSA)

Blue Trust Inc. lowered its stake in shares of Public Storage (NYSE:PSA) by 83.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259 shares of the real estate investment trust’s stock after selling 1,321 shares during the quarter. Blue Trust Inc.’s holdings in Public Storage were worth $78,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PSA. Quent Capital LLC grew its position in Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Public Storage during the third quarter worth approximately $34,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage during the third quarter worth approximately $38,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage in the 4th quarter valued at $38,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Public Storage in the 3rd quarter valued at $55,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

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

Public Storage Stock Performance

Shares of Public Storage stock opened at $304.30 on Monday. Public Storage has a one year low of $256.31 and a one year high of $369.99. The firm has a market capitalization of $53.29 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 4.91 and a beta of 0.74. The business has a 50-day simple moving average of $298.12 and a 200 day simple moving average of $325.59. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Insiders Place Their Bets

In other Public Storage 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 completion of the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.00% of the company’s stock.

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.