Montrusco Bolton Investments Inc. Trims Stake in Public Storage (NYSE:PSA)

Montrusco Bolton Investments Inc. cut its stake in shares of Public Storage (NYSE:PSA) by 15.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 662,685 shares of the real estate investment trust’s stock after selling 121,302 shares during the period. Public Storage comprises about 2.3% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its 17th biggest position. Montrusco Bolton Investments Inc.’s holdings in Public Storage were worth $192,098,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Prospera Private Wealth LLC purchased a new position in shares of Public Storage during the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC bought a new stake in Public Storage during the third quarter valued at about $38,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Public Storage in the third quarter valued at about $50,000. Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage in the third quarter valued at about $55,000. Finally, Toth Financial Advisory Corp boosted its stake in shares of Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 66 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 0.0 %

PSA stock opened at $297.29 on Wednesday. The firm’s fifty day simple moving average is $311.40 and its two-hundred day simple moving average is $326.04. The stock has a market capitalization of $52.06 billion, a price-to-earnings ratio of 30.87, a price-to-earnings-growth ratio of 4.68 and a beta of 0.74. 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 twelve month low of $256.31 and a twelve month high of $369.99.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated 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 sale, the insider now owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Truist Financial boosted their price target on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Royal Bank of Canada lowered 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 report on Friday, November 8th. Morgan Stanley raised their target price on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and boosted their price target for the stock from $298.00 to $299.00 in a research note 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 for the company in a research report on Tuesday, November 5th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

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.