Public Storage (NYSE:PSA) Shares Purchased by Citigroup Inc.

Citigroup Inc. raised its position in Public Storage (NYSE:PSAFree Report) by 13.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,956 shares of the real estate investment trust’s stock after purchasing an additional 18,428 shares during the quarter. Citigroup Inc. owned 0.09% of Public Storage worth $41,625,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Wealth Alliance raised its holdings in shares of Public Storage by 5.3% in the 3rd quarter. Wealth Alliance now owns 847 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 43 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Public Storage by 14.3% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 3,357 shares of the real estate investment trust’s stock worth $885,000 after purchasing an additional 421 shares during the period. Blair William & Co. IL raised its holdings in shares of Public Storage by 3.1% in the 3rd quarter. Blair William & Co. IL now owns 2,852 shares of the real estate investment trust’s stock worth $752,000 after purchasing an additional 85 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Public Storage by 15.3% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,818 shares of the real estate investment trust’s stock worth $8,385,000 after purchasing an additional 4,222 shares during the period. Finally, UBS Group AG raised its holdings in shares of Public Storage by 34.1% in the 3rd quarter. UBS Group AG now owns 132,535 shares of the real estate investment trust’s stock worth $34,926,000 after purchasing an additional 33,720 shares during the period. 78.75% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Price Performance

Shares of PSA opened at $284.07 on Monday. Public Storage has a 52 week low of $233.18 and a 52 week high of $316.48. The firm has a market cap of $49.95 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 3.91 and a beta of 0.55. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.54. The stock has a 50 day moving average of $290.11 and a 200-day moving average of $274.32.

Analyst Ratings Changes

PSA has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Public Storage in a report on Tuesday, January 30th. They set a “sell” rating and a $250.00 target price on the stock. The Goldman Sachs Group raised their target price on Public Storage from $307.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, January 11th. StockNews.com initiated coverage on Public Storage in a report on Saturday, October 21st. They set a “hold” rating on the stock. Truist Financial raised their target price on Public Storage from $285.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, December 28th. Finally, Evercore ISI raised their price objective on Public Storage from $268.00 to $271.00 and gave the company an “in-line” rating in a research note on Monday, November 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $296.25.

Get Our Latest Stock Analysis on PSA

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 265 shares of Public Storage stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $282.17, for a total transaction of $74,775.05. Following the sale, the insider now owns 13,021 shares of the company’s stock, valued at approximately $3,674,135.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Public Storage news, insider Nathaniel A. Vitan sold 265 shares of Public Storage stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $282.17, for a total transaction of $74,775.05. Following the sale, the insider now owns 13,021 shares of the company’s stock, valued at approximately $3,674,135.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Reyes sold 50,000 shares of Public Storage stock in a transaction on Monday, December 11th. The shares were sold at an average price of $275.98, for a total value of $13,799,000.00. Following the sale, the director now directly owns 174,192 shares in the company, valued at approximately $48,073,508.16. The disclosure for this sale can be found here. Insiders sold 55,265 shares of company stock worth $15,170,525 in the last 90 days. 10.90% of the stock is currently owned by company 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.

Further Reading

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

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