Rowlandmiller & PARTNERS.ADV Lowers Position in Public Storage (NYSE:PSA)

Rowlandmiller & PARTNERS.ADV lessened its stake in Public Storage (NYSE:PSA) by 1.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,701 shares of the real estate investment trust’s stock after selling 112 shares during the quarter. Rowlandmiller & PARTNERS.ADV’s holdings in Public Storage were worth $2,007,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC increased its position in Public Storage by 13.3% in the third quarter. Private Advisor Group LLC now owns 5,849 shares of the real estate investment trust’s stock worth $2,128,000 after purchasing an additional 688 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Public Storage by 12.8% in the third quarter. Assenagon Asset Management S.A. now owns 4,709 shares of the real estate investment trust’s stock worth $1,713,000 after purchasing an additional 535 shares during the last quarter. Dakota Wealth Management bought a new stake in Public Storage in the third quarter worth $217,000. Ballentine Partners LLC bought a new stake in Public Storage in the third quarter worth $286,000. Finally, Allworth Financial LP increased its position in Public Storage by 1.6% in the third quarter. Allworth Financial LP now owns 7,098 shares of the real estate investment trust’s stock worth $2,583,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 0.1 %

NYSE PSA opened at $304.30 on Monday. The company’s 50-day moving average price is $298.12 and its 200-day moving average price is $325.59. 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 stock has a market cap of $53.29 billion, a PE ratio of 31.60, a PEG ratio of 4.91 and a beta of 0.74. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99.

Analyst Ratings Changes

Several brokerages recently weighed in on PSA. Barclays reduced their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and boosted their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada reduced their price target 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. Truist Financial boosted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company cut their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $341.85.

Insider Transactions at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction dated 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 directly owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 11.00% of the company’s stock.

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.