D.A. Davidson & CO. Buys 2,264 Shares of Public Storage (NYSE:PSA)

D.A. Davidson & CO. grew its holdings in shares of Public Storage (NYSE:PSAFree Report) by 37.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,383 shares of the real estate investment trust’s stock after acquiring an additional 2,264 shares during the quarter. D.A. Davidson & CO.’s holdings in Public Storage were worth $2,209,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PSA. Sunbelt Securities Inc. bought a new stake in shares of Public Storage during the 1st quarter valued at about $26,000. Focused Wealth Management Inc bought a new stake in Public Storage in the 2nd quarter worth approximately $29,000. ICA Group Wealth Management LLC purchased a new stake in Public Storage in the fourth quarter worth approximately $29,000. Live Oak Investment Partners purchased a new stake in Public Storage in the fourth quarter worth approximately $34,000. Finally, Avior Wealth Management LLC boosted its stake in Public Storage by 49.5% in the third quarter. Avior Wealth Management LLC now owns 145 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 48 shares in the last quarter. Institutional investors own 78.75% of the company’s stock.

Public Storage Stock Performance

NYSE:PSA opened at $284.07 on Friday. The firm has a market cap of $49.95 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 3.92 and a beta of 0.55. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $316.48. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.98 and a current ratio of 0.98. The business has a 50 day moving average price of $290.11 and a 200-day moving average price of $274.60.

Analysts Set New Price Targets

Several analysts have issued reports on PSA shares. Wells Fargo & Company lowered Public Storage from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $270.00 to $280.00 in a research note on Tuesday, December 12th. Evercore ISI upped their target price on Public Storage from $268.00 to $271.00 and gave the stock an “in-line” rating in a research note on Monday, November 27th. Deutsche Bank Aktiengesellschaft started coverage on Public Storage in a research note on Tuesday, January 30th. They issued a “sell” rating and a $250.00 target price for the company. StockNews.com started coverage on Public Storage in a research note on Saturday, October 21st. They issued a “hold” rating for the company. Finally, Truist Financial upped their target price on Public Storage from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, December 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Hold” and a consensus target price of $296.25.

Read Our Latest Stock Report on PSA

Insider Activity at Public Storage

In related news, Director Avedick Baruyr Poladian sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $259.35, for a total transaction of $1,296,750.00. Following the completion of the transaction, the director now owns 30,163 shares in the company, valued at $7,822,774.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Avedick Baruyr Poladian sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $259.35, for a total transaction of $1,296,750.00. Following the completion of the transaction, the director now owns 30,163 shares in the company, valued at $7,822,774.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Nathaniel A. Vitan sold 265 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $282.17, for a total value of $74,775.05. Following the transaction, the insider now owns 13,021 shares of the company’s stock, valued at approximately $3,674,135.57. The disclosure for this sale can be found here. Insiders sold a total of 55,265 shares of company stock worth $15,170,525 over the last quarter. 11.00% of the stock is owned by corporate insiders.

About Public Storage

(Free Report)

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 September 30, 2023, we had: (i) interests in 3,028 self-storage facilities located in 40 states with approximately 217 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 267 self-storage facilities located in seven Western European nations with approximately 15 million net rentable square feet operated under the Shurgard brand.

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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