Stephens Inc. AR Purchases 900 Shares of Public Storage (NYSE:PSA)

Stephens Inc. AR lifted its position in shares of Public Storage (NYSE:PSA) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,825 shares of the real estate investment trust’s stock after acquiring an additional 900 shares during the period. Stephens Inc. AR’s holdings in Public Storage were worth $11,326,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. AlphaStar Capital Management LLC lifted its stake in Public Storage by 51.5% during the fourth quarter. AlphaStar Capital Management LLC now owns 1,897 shares of the real estate investment trust’s stock worth $568,000 after purchasing an additional 645 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Public Storage during the 4th quarter worth $3,328,000. Empowered Funds LLC lifted its position in shares of Public Storage by 11.2% during the 4th quarter. Empowered Funds LLC now owns 2,813 shares of the real estate investment trust’s stock worth $842,000 after buying an additional 283 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Public Storage by 10.1% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,436 shares of the real estate investment trust’s stock valued at $1,328,000 after buying an additional 406 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in Public Storage by 4.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,090 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 44 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Activity

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

Public Storage Stock Performance

Shares of PSA stock opened at $302.48 on Monday. The stock has a market capitalization of $52.97 billion, a PE ratio of 31.41, a PEG ratio of 4.88 and a beta of 0.74. The business’s 50 day simple moving average is $304.09 and its 200 day simple moving average is $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. Public Storage has a one year low of $256.31 and a one year high of $369.99.

Wall Street Analyst Weigh In

PSA has been the subject of several research analyst reports. Barclays lowered their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company dropped their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Royal Bank of Canada decreased their target price on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Evercore ISI dropped their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.