Mirae Asset Global Investments Co. Ltd. Buys 2,213 Shares of Public Storage (NYSE:PSA)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Public Storage (NYSE:PSA) by 11.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 20,978 shares of the real estate investment trust’s stock after purchasing an additional 2,213 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Public Storage were worth $6,169,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PSA. Capital Investment Advisors LLC increased its position in shares of Public Storage by 25.4% during the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock valued at $8,566,000 after acquiring an additional 5,793 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Public Storage by 1.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock worth $51,762,000 after purchasing an additional 2,605 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Public Storage by 114.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock worth $33,302,000 after purchasing an additional 48,803 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Public Storage by 3,714.6% in the third quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock worth $666,000 after purchasing an additional 1,783 shares during the last quarter. Finally, Swedbank AB increased its holdings in Public Storage by 31.9% in the 3rd quarter. Swedbank AB now owns 154,167 shares of the real estate investment trust’s stock worth $56,097,000 after buying an additional 37,285 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the sale, the insider now owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.10% of the company’s stock.

Public Storage Trading Down 0.1 %

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays decreased their price objective 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 boosted their target price on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Royal Bank of Canada dropped their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Evercore ISI reduced their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Public Storage Company 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.