Public Storage (NYSE:PSA) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Public Storage (NYSE:PSA) by 10.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 237,856 shares of the real estate investment trust’s stock after buying an additional 23,474 shares during the period. Principal Financial Group Inc.’s holdings in Public Storage were worth $71,224,000 as of its most recent SEC filing.

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

Insider Activity

In other Public Storage 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 value of $143,095.50. Following the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

PSA has been the topic of several research analyst reports. 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 report on Friday, November 8th. Barclays decreased their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Truist Financial upped their price objective on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Wells Fargo & Company cut their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $344.54.

Public Storage Stock Up 0.1 %

NYSE PSA opened at $297.21 on Thursday. 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 fifty-two week low of $256.31 and a fifty-two week high of $369.99. The business has a 50 day moving average price of $298.73 and a two-hundred day moving average price of $325.54. The stock has a market cap of $52.04 billion, a PE ratio of 30.86, a P/E/G ratio of 4.80 and a beta of 0.74.

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.