Public Storage (NYSE:PSA) Stock Position Lifted by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. grew its position in Public Storage (NYSE:PSA) by 12.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,185 shares of the real estate investment trust’s stock after acquiring an additional 236 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Public Storage were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in PSA. Prospera Private Wealth LLC acquired a new position in Public Storage in the third quarter worth $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Storage in the 3rd quarter valued at about $38,000. Synergy Asset Management LLC acquired a new position in shares of Public Storage in the 4th quarter valued at about $38,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Public Storage during the 3rd quarter valued at about $50,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Public Storage during the third quarter worth about $55,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Price Performance

NYSE PSA opened at $302.48 on Monday. The firm has a market capitalization of $52.97 billion, a PE ratio of 31.41, a P/E/G ratio of 4.88 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. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The company’s 50 day simple moving average is $304.09 and its 200 day simple moving average is $325.59.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 11.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on PSA. Barclays lowered their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Evercore ISI cut their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada cut their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Finally, Wells Fargo & Company decreased their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $344.54.

About Public Storage

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.