Forsta AP Fonden Sells 200 Shares of Public Storage (NYSE:PSA)

Forsta AP Fonden cut its stake in shares of Public Storage (NYSE:PSA) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,000 shares of the real estate investment trust’s stock after selling 200 shares during the quarter. Forsta AP Fonden’s holdings in Public Storage were worth $9,582,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Petredis Investment Advisors LLC raised its position in Public Storage by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock valued at $2,497,000 after purchasing an additional 30 shares in the last quarter. S.A. Mason LLC raised its holdings in shares of Public Storage by 3.8% in the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock valued at $300,000 after acquiring an additional 30 shares in the last quarter. Haverford Trust Co lifted its stake in Public Storage by 0.7% in the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock worth $1,558,000 after acquiring an additional 30 shares during the period. Huntington National Bank grew its holdings in Public Storage by 5.4% during the 3rd quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 33 shares in the last quarter. Finally, Chesapeake Wealth Management increased its position in Public Storage by 2.2% during the 3rd quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock valued at $560,000 after purchasing an additional 33 shares during the period. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSA. Royal Bank of Canada dropped 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 note on Friday, November 8th. Truist Financial lifted their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Evercore ISI reduced their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Wells Fargo & Company dropped their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Barclays reduced their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $344.54.

Insider Buying and Selling

In other news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated 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 owns 2,364 shares of the company’s stock, 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. 11.00% of the stock is currently owned by corporate insiders.

Public Storage Stock Up 1.3 %

PSA stock opened at $298.11 on Friday. The firm’s fifty day simple moving average is $310.63 and its 200-day simple moving average is $325.82. The company has a market capitalization of $52.20 billion, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 4.68 and a beta of 0.74. 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 12 month low of $256.31 and a 12 month high of $369.99.

Public Storage 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.