Busey Bank Sells 181 Shares of Public Storage (NYSE:PSA)

Busey Bank lessened its holdings in Public Storage (NYSE:PSA) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,886 shares of the real estate investment trust’s stock after selling 181 shares during the quarter. Busey Bank’s holdings in Public Storage were worth $565,000 at the end of the most recent reporting period.

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

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Barclays dropped their price objective on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Evercore ISI cut their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Wells Fargo & Company reduced their price target 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. Royal Bank of Canada dropped their price objective on 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, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their target price for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Seven 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $344.54.

Public Storage Stock Up 1.3 %

Shares of NYSE PSA opened at $298.11 on Friday. The company has a market cap of $52.20 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 4.74 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. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The stock has a 50-day moving average price of $310.63 and a two-hundred day moving average price of $325.82.

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.