Public Storage (NYSE:PSA) Shares Purchased by Venturi Wealth Management LLC

Venturi Wealth Management LLC boosted its position in Public Storage (NYSE:PSA) by 156.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 233 shares of the real estate investment trust’s stock after purchasing an additional 142 shares during the quarter. Venturi Wealth Management LLC’s holdings in Public Storage were worth $70,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PSA. Private Advisor Group LLC raised its stake in 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 valued at $2,128,000 after purchasing an additional 688 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Public Storage by 12.8% in the 3rd 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 purchasing an additional 535 shares during the last quarter. Dakota Wealth Management acquired a new position in Public Storage in the 3rd quarter valued at $217,000. Ballentine Partners LLC acquired a new position in Public Storage in the 3rd quarter valued at $286,000. Finally, Allworth Financial LP raised its stake in Public Storage by 1.6% in the 3rd quarter. Allworth Financial LP now owns 7,098 shares of the real estate investment trust’s stock valued at $2,583,000 after purchasing an additional 112 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PSA shares. Truist Financial raised their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Barclays cut their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and raised their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Wells Fargo & Company cut their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Royal Bank of Canada cut their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $341.85.

Public Storage Stock Down 0.6 %

Shares of PSA opened at $302.33 on Tuesday. The firm has a market cap of $52.94 billion, a P/E ratio of 31.39, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company’s 50-day moving average price is $297.86 and its 200 day moving average price is $325.51. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99.

Public Storage (NYSE:PSA) last released its earnings results on Monday, February 24th. The real estate investment trust reported $4.21 earnings per share for the quarter, missing the consensus estimate of $4.23 by ($0.02). Public Storage had a net margin of 40.54% and a return on equity of 34.07%. On average, sell-side analysts forecast that Public Storage will post 16.7 earnings per share for the current year.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 11.00% of the stock is currently owned by corporate insiders.

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.