Global X Japan Co. Ltd. Buys 40 Shares of Public Storage (NYSE:PSA)

Global X Japan Co. Ltd. increased its stake in shares of Public Storage (NYSE:PSA) by 13.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 333 shares of the real estate investment trust’s stock after purchasing an additional 40 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Public Storage were worth $100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSA. Prospera Private Wealth LLC purchased a new position in Public Storage during the third quarter worth $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage in the 3rd quarter worth about $38,000. Synergy Asset Management LLC bought a new stake in Public Storage in the fourth quarter worth about $38,000. Compagnie Lombard Odier SCmA bought a new stake in Public Storage in the third quarter worth about $50,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage during the third quarter valued at approximately $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Trading Down 0.1 %

Shares of NYSE PSA opened at $302.48 on Friday. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The business has a fifty day moving average price of $305.00 and a 200 day moving average price of $325.44. The stock has a market capitalization of $52.97 billion, a P/E ratio of 31.41, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Insiders Place Their Bets

In other news, insider Nathaniel A. Vitan sold 450 shares of Public Storage 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 transaction, the insider now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PSA shares. Evercore ISI decreased 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. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial raised their target price on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada decreased their price target on shares of 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. Finally, Wells Fargo & Company reduced their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.