Trilogy Capital Inc. Increases Holdings in Public Storage (NYSE:PSA)

Trilogy Capital Inc. raised its stake in Public Storage (NYSE:PSA) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,255 shares of the real estate investment trust’s stock after buying an additional 367 shares during the quarter. Trilogy Capital Inc.’s holdings in Public Storage were worth $2,771,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in Public Storage during the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage during the 3rd quarter worth $38,000. Synergy Asset Management LLC purchased a new stake in shares of Public Storage in the 4th quarter valued at about $38,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Public Storage in the 3rd quarter valued at $50,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Public Storage in the third quarter valued at $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PSA. Wells Fargo & Company decreased their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Evercore ISI lowered their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Barclays cut their price target 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. Truist Financial lifted their price objective on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. 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 research note on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $344.54.

Public Storage Stock Performance

NYSE:PSA opened at $302.13 on Thursday. The company has a market cap of $52.91 billion, a P/E ratio of 31.37, a P/E/G ratio of 4.81 and a beta of 0.74. The firm’s 50 day moving average is $306.96 and its two-hundred day moving average is $325.76. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Insider Buying and Selling

In related 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 transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 11.10% of the company’s stock.

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.