Public Storage (NYSE:PSA) Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. lowered its holdings in Public Storage (NYSE:PSA) by 10.6% during the fourth quarter, HoldingsChannel reports. The fund owned 673 shares of the real estate investment trust’s stock after selling 80 shares during the period. Geneos Wealth Management Inc.’s holdings in Public Storage were worth $202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Prospera Private Wealth LLC acquired a new stake in Public Storage during the 3rd quarter worth $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Public Storage in the 3rd quarter valued at approximately $38,000. Compagnie Lombard Odier SCmA acquired a new position in Public Storage in the 3rd quarter valued at $50,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Public Storage in the third quarter valued at about $55,000. Finally, Versant Capital Management Inc raised its stake in shares of Public Storage by 301.7% during the 4th quarter. Versant Capital Management Inc now owns 237 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 178 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PSA. Wells Fargo & Company reduced their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Truist Financial upped their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Barclays decreased their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada cut their price objective on shares of 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. Finally, Evercore ISI dropped their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and a consensus price target of $344.54.

Public Storage Price Performance

Shares of NYSE PSA opened at $294.45 on Thursday. 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 1-year low of $256.31 and a 1-year high of $369.99. The business has a 50-day moving average of $311.40 and a 200-day moving average of $326.04. The company has a market capitalization of $51.56 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 4.68 and a beta of 0.74.

Insider Transactions 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 value of $143,095.50. Following the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 11.00% of the company’s stock.

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.