Chevy Chase Trust Holdings LLC Lowers Position in Public Storage (NYSE:PSA)

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Public Storage (NYSE:PSA) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,926 shares of the real estate investment trust’s stock after selling 1,844 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Public Storage worth $26,628,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSA. Exchange Traded Concepts LLC lifted its position in Public Storage by 4.6% during the third quarter. Exchange Traded Concepts LLC now owns 1,953 shares of the real estate investment trust’s stock valued at $711,000 after buying an additional 85 shares in the last quarter. CX Institutional lifted its position in Public Storage by 6.9% during the third quarter. CX Institutional now owns 790 shares of the real estate investment trust’s stock valued at $287,000 after buying an additional 51 shares in the last quarter. Creative Planning lifted its position in Public Storage by 13.1% during the third quarter. Creative Planning now owns 21,985 shares of the real estate investment trust’s stock valued at $8,000,000 after buying an additional 2,550 shares in the last quarter. NBC Securities Inc. lifted its position in Public Storage by 51.3% during the third quarter. NBC Securities Inc. now owns 422 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 143 shares in the last quarter. Finally, SPC Financial Inc. lifted its position in Public Storage by 7.1% during the third quarter. SPC Financial Inc. now owns 1,309 shares of the real estate investment trust’s stock valued at $476,000 after buying an additional 87 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Trading Down 1.2 %

PSA opened at $297.69 on Friday. The stock has a market capitalization of $52.13 billion, a PE ratio of 30.91, a P/E/G ratio of 4.88 and a beta of 0.74. The firm’s fifty day moving average price is $301.36 and its 200 day moving average price is $325.54. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99.

Insider Buying and Selling at Public Storage

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 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. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada reduced 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 reduced their target price 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. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and boosted their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Truist Financial boosted their target price 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. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $344.54.

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.