Sterling Investment Advisors Ltd. Purchases 150 Shares of Public Storage (NYSE:PSA)

Sterling Investment Advisors Ltd. increased its stake in shares of Public Storage (NYSE:PSA) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,125 shares of the real estate investment trust’s stock after purchasing an additional 150 shares during the quarter. Sterling Investment Advisors Ltd.’s holdings in Public Storage were worth $936,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PSA. Private Advisor Group LLC raised its stake in Public Storage by 13.3% in the third quarter. Private Advisor Group LLC now owns 5,849 shares of the real estate investment trust’s stock valued at $2,128,000 after buying an additional 688 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Public Storage by 12.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,709 shares of the real estate investment trust’s stock worth $1,713,000 after acquiring an additional 535 shares during the period. Dakota Wealth Management acquired a new stake in Public Storage during the third quarter worth about $217,000. Ballentine Partners LLC acquired a new stake in Public Storage during the third quarter worth about $286,000. Finally, Allworth Financial LP grew its holdings in Public Storage by 1.6% in the third quarter. Allworth Financial LP now owns 7,098 shares of the real estate investment trust’s stock valued at $2,583,000 after purchasing an additional 112 shares during the period. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Down 0.6 %

Public Storage stock opened at $302.33 on Tuesday. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The stock has a 50 day moving average of $297.86 and a two-hundred day moving average of $325.51. 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 stock has a market capitalization 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 issued its earnings results on Monday, February 24th. The real estate investment trust reported $4.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.23 by ($0.02). Public Storage had a return on equity of 34.07% and a net margin of 40.54%. As a group, research analysts expect that Public Storage will post 16.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company reduced their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial lifted their target price on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Barclays dropped their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada dropped their price objective on 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. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $341.85.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares of the company’s stock, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.00% of the stock is currently owned by company insiders.

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.