SteelPeak Wealth LLC Reduces Stock Holdings in Public Storage (NYSE:PSA)

SteelPeak Wealth LLC lessened its stake in shares of Public Storage (NYSE:PSA) by 22.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,210 shares of the real estate investment trust’s stock after selling 1,797 shares during the quarter. SteelPeak Wealth LLC’s holdings in Public Storage were worth $1,860,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Prospera Private Wealth LLC purchased a new stake in shares of Public Storage in the third quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Public Storage during the 3rd quarter worth about $38,000. Compagnie Lombard Odier SCmA bought a new position in Public Storage during the 3rd quarter valued at about $50,000. Harbor Capital Advisors Inc. bought a new stake in Public Storage in the third quarter worth about $55,000. Finally, Toth Financial Advisory Corp lifted its stake in Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 66 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business’s 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 directly owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.00% of the stock is currently owned by company insiders.

Public Storage Price Performance

NYSE PSA opened at $294.45 on Thursday. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The firm’s 50 day moving average price is $311.40 and its 200-day moving average price is $326.04. The company has a market cap of $51.56 billion, a PE ratio of 30.58, a P/E/G ratio of 4.68 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Analyst Ratings Changes

Several brokerages have recently weighed in on PSA. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and increased their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Barclays decreased their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Morgan Stanley upped their price target on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada decreased their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Wells Fargo & Company dropped their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Seven 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $344.54.

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.