Kentucky Retirement Systems Sells 149 Shares of Public Storage (NYSE:PSA)

Kentucky Retirement Systems lowered its position in shares of Public Storage (NYSE:PSA) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,824 shares of the real estate investment trust’s stock after selling 149 shares during the period. Kentucky Retirement Systems’ holdings in Public Storage were worth $3,241,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in Public Storage by 5.7% during the 3rd quarter. Signaturefd LLC now owns 1,517 shares of the real estate investment trust’s stock valued at $552,000 after purchasing an additional 82 shares during the period. Private Advisor Group LLC grew its position in shares of Public Storage by 13.3% in the 3rd quarter. Private Advisor Group LLC now owns 5,849 shares of the real estate investment trust’s stock worth $2,128,000 after buying an additional 688 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Public Storage by 24.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,921 shares of the real estate investment trust’s stock valued at $1,791,000 after buying an additional 975 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of 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 valued at $1,713,000 after acquiring an additional 535 shares in the last quarter. Finally, Dakota Wealth Management purchased a new stake in Public Storage in the third quarter worth $217,000. Institutional investors own 78.79% of the company’s stock.

Insider Transactions at Public Storage

In other Public Storage 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 directly owns 2,364 shares in the company, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.00% of the stock is owned by insiders.

Public Storage Trading Up 0.1 %

Public Storage stock opened at $304.30 on Friday. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The company has a market capitalization of $53.29 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74. The business’s fifty day simple moving average is $298.12 and its two-hundred day simple moving average is $325.39. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Analysts Set New Price Targets

PSA has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company reduced their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial increased their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, Barclays dropped their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report 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’s stock. Based on data from MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $341.85.

Public Storage Company 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.