Public Storage (NYSE:PSA) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Public Storage (NYSE:PSA) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 769,165 shares of the real estate investment trust’s stock after selling 27,299 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.44% of Public Storage worth $230,319,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PSA. Prospera Private Wealth LLC purchased a new stake in Public Storage during the 3rd quarter worth $34,000. Ashton Thomas Securities LLC purchased a new position in Public Storage in the 3rd quarter valued at about $38,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage in the 4th quarter valued at about $38,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Public Storage in the 3rd quarter valued at about $50,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of 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.

Public Storage Trading Down 0.1 %

NYSE PSA opened at $302.48 on Friday. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $52.97 billion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. The firm’s fifty day simple moving average is $305.00 and its 200-day simple moving average is $325.44.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PSA. Barclays dropped their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. 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. Evercore ISI cut their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Truist Financial increased their price objective on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, Royal Bank of Canada cut their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the 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 transaction, the insider now directly owns 2,364 shares of the company’s stock, valued at $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 available through the SEC website. 11.10% of the stock is currently owned by company insiders.

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.