PFG Investments LLC Has $321,000 Stock Holdings in Public Storage (NYSE:PSA)

PFG Investments LLC decreased its stake in Public Storage (NYSE:PSA) by 21.2% in the fourth quarter, HoldingsChannel reports. The firm owned 1,073 shares of the real estate investment trust’s stock after selling 288 shares during the period. PFG Investments LLC’s holdings in Public Storage were worth $321,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in Public Storage in the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Public Storage in the third quarter valued at $38,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Public Storage in the third quarter worth $50,000. Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage during the third quarter valued at $55,000. Finally, Toth Financial Advisory Corp raised its position in Public Storage by 48.2% during the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on PSA shares. Truist Financial raised their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Barclays lowered their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada cut their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and boosted their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Wells Fargo & Company cut their price target 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. Seven investment 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $344.54.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’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 sale, the insider now directly owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.00% of the stock is owned by corporate insiders.

Public Storage Trading Up 0.2 %

NYSE:PSA opened at $298.50 on Friday. The business’s 50-day simple moving average is $309.85 and its 200-day simple moving average is $325.62. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $52.27 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 4.74 and a beta of 0.74.

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.