Public Storage (NYSE:PSA) Stock Position Boosted by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC raised its holdings in Public Storage (NYSE:PSA) by 441.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 363 shares of the real estate investment trust’s stock after acquiring an additional 296 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Public Storage were worth $109,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quent Capital LLC lifted its holdings in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Public Storage in the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage in the 3rd quarter valued at about $38,000. Synergy Asset Management LLC acquired a new stake in Public Storage in the 4th quarter valued at about $38,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Public Storage in the 3rd quarter valued at about $55,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the transaction, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 11.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PSA has been the subject of a number of research analyst reports. Truist Financial upped their price target 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. 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 research note on Friday, January 10th. Barclays reduced their price objective on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada reduced 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 research note on Friday, November 8th. Finally, Wells Fargo & Company reduced 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. 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. According to data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $344.54.

Public Storage Price Performance

NYSE PSA opened at $296.77 on Wednesday. The company has a 50 day simple moving average of $299.87 and a 200-day simple moving average of $325.85. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $51.97 billion, a price-to-earnings ratio of 30.82, a price-to-earnings-growth ratio of 4.88 and a beta of 0.74. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99.

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.