Public Storage (NYSE:PSA) Holdings Trimmed by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC trimmed its position in shares of Public Storage (NYSE:PSA) by 74.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,283 shares of the real estate investment trust’s stock after selling 3,823 shares during the period. Concurrent Investment Advisors LLC’s holdings in Public Storage were worth $384,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quent Capital LLC grew its position in Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in Public Storage during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new position in Public Storage during the 3rd quarter worth approximately $38,000. Synergy Asset Management LLC purchased a new position in Public Storage during the 4th quarter worth approximately $38,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Public Storage during the 3rd quarter valued at $55,000. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Performance

PSA opened at $302.33 on Tuesday. 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’s fifty day moving average price is $297.86 and its two-hundred day moving average price is $325.51. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a market cap of $52.94 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 4.91 and a beta of 0.74.

Public Storage (NYSE:PSA) last released its quarterly earnings data on Monday, February 24th. The real estate investment trust reported $4.21 earnings per share for the quarter, missing the consensus estimate of $4.23 by ($0.02). Public Storage had a return on equity of 34.07% and a net margin of 40.54%. On average, analysts expect that Public Storage will post 16.7 EPS for the current fiscal year.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 450 shares of the firm’s 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 approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 11.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Royal Bank of Canada decreased their target price on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company reduced their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Barclays reduced their price objective on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Seven equities 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $341.85.

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.