Silverlake Wealth Management LLC Sells 78 Shares of Public Storage (NYSE:PSA)

Silverlake Wealth Management LLC lowered its holdings in Public Storage (NYSE:PSA) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 2,789 shares of the real estate investment trust’s stock after selling 78 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Public Storage were worth $835,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PSA. Prospera Private Wealth LLC bought a new position in shares of Public Storage in the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new position in shares of Public Storage in the 3rd quarter valued at about $38,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage during the 4th quarter worth about $38,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Public Storage during the 3rd quarter worth about $50,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Public Storage during the 3rd quarter worth about $55,000. Institutional investors own 78.79% of the company’s stock.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 of the company’s stock, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.10% of the stock is currently owned by insiders.

Public Storage Trading Up 0.4 %

Shares of Public Storage stock opened at $296.99 on Wednesday. The firm has a market capitalization of $52.01 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 4.81 and a beta of 0.74. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm’s 50 day moving average is $308.02 and its 200 day moving average is $325.80. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PSA shares. Evercore ISI cut their target price on shares of 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. Wells Fargo & Company cut 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 note on Tuesday, November 5th. Royal Bank of Canada cut their target price 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. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Truist Financial lifted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Seven investment 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.