Union Bancaire Privee UBP SA Purchases Shares of 5,500 Public Storage (NYSE:PSA)

Union Bancaire Privee UBP SA purchased a new stake in Public Storage (NYSE:PSA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 5,500 shares of the real estate investment trust’s stock, valued at approximately $1,647,000.

A number of other hedge funds have also recently bought and sold shares of the stock. State Street Corp grew its stake in Public Storage by 0.5% in the third 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 purchasing an additional 55,123 shares in the last quarter. FMR LLC grew its stake in Public Storage by 20.9% in the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock valued at $1,828,763,000 after purchasing an additional 869,066 shares in the last quarter. Geode Capital Management LLC grew its stake in Public Storage by 1.4% in the third 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 purchasing an additional 52,807 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Public Storage by 2.0% in the third 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 purchasing an additional 54,992 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Public Storage by 732.9% in the third 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 purchasing an additional 1,358,493 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Truist Financial raised their price objective on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Wells Fargo & Company cut their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday. Royal Bank of Canada cut their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Finally, Barclays cut their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $341.85.

Public Storage Stock Performance

NYSE:PSA opened at $304.30 on Monday. The stock has a market cap of $53.29 billion, a P/E ratio of 31.60, a PEG ratio of 4.91 and a beta of 0.74. The stock has a 50 day simple moving average of $298.12 and a 200 day simple moving average of $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. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.00% of the company’s stock.

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.