Vontobel Holding Ltd. Acquires 581 Shares of Public Storage (NYSE:PSA)

Vontobel Holding Ltd. raised its holdings in Public Storage (NYSE:PSA) by 28.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,652 shares of the real estate investment trust’s stock after buying an additional 581 shares during the period. Vontobel Holding Ltd.’s holdings in Public Storage were worth $794,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Public Storage by 5.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock valued at $16,089,000 after buying an additional 2,566 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Public Storage by 3,714.6% in the third quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock valued at $666,000 after buying an additional 1,783 shares in the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Public Storage by 25.4% in the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock valued at $8,566,000 after buying an additional 5,793 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Public Storage by 1.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock valued at $51,762,000 after buying an additional 2,605 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Public Storage by 114.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock valued at $33,302,000 after buying an additional 48,803 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada dropped their price target 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. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Barclays dropped their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Wells Fargo & Company dropped their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Seven 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 stock. Based on data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and an average target price of $344.54.

Public Storage Price Performance

PSA opened at $296.77 on Wednesday. The company has a market capitalization of $51.97 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 4.88 and a beta of 0.74. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a 50-day moving average price of $299.87 and a 200-day moving average price of $325.85. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99.

Insider Transactions at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated Friday, December 13th. The shares were 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 in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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.