LDR Capital Management LLC Raises Stock Position in Public Storage (NYSE:PSA)

LDR Capital Management LLC lifted its position in Public Storage (NYSE:PSA) by 10.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,388 shares of the real estate investment trust’s stock after acquiring an additional 588 shares during the quarter. Public Storage accounts for 2.6% of LDR Capital Management LLC’s portfolio, making the stock its 17th largest position. LDR Capital Management LLC’s holdings in Public Storage were worth $1,913,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Winebrenner Capital Management LLC bought a new stake in Public Storage during the 4th quarter valued at about $639,000. Deseret Mutual Benefit Administrators lifted its holdings in Public Storage by 49.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 307 shares of the real estate investment trust’s stock valued at $92,000 after buying an additional 101 shares in the last quarter. Capital Advisory Group Advisory Services LLC lifted its holdings in Public Storage by 7.1% during the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 3,151 shares of the real estate investment trust’s stock valued at $944,000 after buying an additional 208 shares in the last quarter. Transcend Capital Advisors LLC lifted its holdings in Public Storage by 10.9% during the 4th quarter. Transcend Capital Advisors LLC now owns 864 shares of the real estate investment trust’s stock valued at $259,000 after buying an additional 85 shares in the last quarter. Finally, ING Groep NV bought a new stake in shares of Public Storage in the 4th quarter valued at about $6,027,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

PSA opened at $304.30 on Friday. 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 fifty day moving average price of $298.12 and a 200 day moving average price of $325.39. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The stock has a market cap of $53.29 billion, a P/E ratio of 31.60, a P/E/G ratio of 4.91 and a beta of 0.74.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PSA. Wells Fargo & Company reduced their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada reduced their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Truist Financial lifted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Barclays cut their price objective on shares of 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 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $341.85.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s 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 directly 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 legal filing with the SEC, which is accessible through this hyperlink. Company 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.