Bank of Jackson Hole Trust Buys New Position in Public Storage (NYSE:PSA)

Bank of Jackson Hole Trust bought a new stake in shares of Public Storage (NYSE:PSA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,285 shares of the real estate investment trust’s stock, valued at approximately $684,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PSA. Quent Capital LLC boosted its position 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 valued at $26,000 after purchasing an additional 50 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Public Storage in the third quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new position in Public Storage in the third quarter worth approximately $38,000. Synergy Asset Management LLC bought a new position in Public Storage in the fourth quarter worth approximately $38,000. Finally, Harbor Capital Advisors Inc. bought a new position in Public Storage in the third quarter worth approximately $55,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of PSA opened at $296.77 on Wednesday. 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 $51.97 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 4.80 and a beta of 0.74. The stock has a 50 day moving average of $299.25 and a 200 day moving average of $325.74. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was 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 directly owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PSA has been the topic of several recent research reports. Royal Bank of Canada cut their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Barclays cut their price target on 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 increased 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. Wells Fargo & Company lowered their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $344.54.

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.