11,113 Shares in Public Storage (NYSE:PSA) Purchased by Entropy Technologies LP

Entropy Technologies LP purchased a new position in Public Storage (NYSE:PSA) during the fourth quarter, Holdings Channel reports. The fund purchased 11,113 shares of the real estate investment trust’s stock, valued at approximately $3,328,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Public Storage by 732.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock worth $561,763,000 after buying an additional 1,358,493 shares during the last quarter. Adelante Capital Management LLC boosted its holdings in shares of Public Storage by 389.9% in the 3rd quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust’s stock worth $532,465,000 after buying an additional 1,164,630 shares during the last quarter. FMR LLC boosted its holdings in shares of Public Storage by 20.9% in the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock worth $1,828,763,000 after buying an additional 869,066 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Public Storage by 57.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust’s stock worth $405,278,000 after buying an additional 405,847 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Public Storage by 80.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 218,867 shares of the real estate investment trust’s stock worth $79,639,000 after buying an additional 97,302 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred 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 directly owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.00% of the stock is owned by company insiders.

Public Storage Stock Down 0.1 %

PSA stock opened at $302.48 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company’s 50 day moving average is $304.09 and its 200 day moving average is $325.42. The stock has a market cap of $52.97 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 4.88 and a beta of 0.74. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99.

Wall Street Analysts Forecast Growth

Several research firms have commented on PSA. Wells Fargo & Company dropped their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial upped their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Evercore ISI dropped their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Finally, Barclays decreased their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and an average price target of $344.54.

Public Storage Company 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.