New York State Common Retirement Fund Has $65.85 Million Stock Position in Public Storage (NYSE:PSA)

New York State Common Retirement Fund decreased its position in Public Storage (NYSE:PSA) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 219,909 shares of the real estate investment trust’s stock after selling 700 shares during the period. New York State Common Retirement Fund’s holdings in Public Storage were worth $65,850,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Public Storage by 0.5% in the 3rd quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust’s stock valued at $3,773,571,000 after acquiring an additional 55,123 shares in the last quarter. FMR LLC raised its holdings in Public Storage by 20.9% in the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock valued at $1,828,763,000 after acquiring an additional 869,066 shares in the last quarter. Geode Capital Management LLC raised its holdings in Public Storage by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust’s stock valued at $1,425,941,000 after acquiring an additional 52,807 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Public Storage by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock valued at $1,023,080,000 after acquiring an additional 54,992 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Public Storage by 732.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock valued at $561,763,000 after acquiring an additional 1,358,493 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PSA shares. Barclays dropped 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. Royal Bank of Canada dropped their target price 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. Wells Fargo & Company dropped their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. 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. Finally, Truist Financial increased their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Seven investment 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 a consensus rating of “Moderate Buy” and an average price target of $344.54.

Public Storage Stock Up 0.1 %

NYSE PSA opened at $297.21 on Thursday. The firm has a market cap of $52.04 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74. Public Storage has a one year low of $256.31 and a one year high of $369.99. The stock’s 50 day simple moving average is $298.73 and its 200 day simple moving average is $325.54. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of the 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 directly owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.10% of the stock is owned by corporate insiders.

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.