Janney Montgomery Scott LLC Raises Stock Position in Public Storage (NYSE:PSA)

Janney Montgomery Scott LLC lifted its position in shares of Public Storage (NYSE:PSAFree Report) by 39.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,329 shares of the real estate investment trust’s stock after acquiring an additional 5,705 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Public Storage were worth $5,358,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PSA. AMI Investment Management Inc. acquired a new position in shares of Public Storage during the first quarter worth about $267,000. Blair William & Co. IL increased its stake in shares of Public Storage by 7.3% during the first quarter. Blair William & Co. IL now owns 2,668 shares of the real estate investment trust’s stock worth $1,041,000 after acquiring an additional 182 shares during the period. Prudential PLC acquired a new position in Public Storage during the first quarter worth about $1,374,000. Sequoia Financial Advisors LLC acquired a new position in Public Storage during the first quarter worth about $398,000. Finally, Candriam Luxembourg S.C.A. grew its position in Public Storage by 19.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 13,506 shares of the real estate investment trust’s stock worth $5,271,000 after buying an additional 2,156 shares during the period. 78.75% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Down 1.0 %

Shares of NYSE PSA opened at $281.34 on Tuesday. Public Storage has a 12-month low of $233.18 and a 12-month high of $316.48. The company has a market capitalization of $49.47 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 3.91 and a beta of 0.55. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.98 and a quick ratio of 0.98. The firm’s 50-day moving average is $290.35 and its two-hundred day moving average is $274.27.

Wall Street Analysts Forecast Growth

PSA has been the topic of several recent analyst reports. Wells Fargo & Company lowered shares of 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 report on Tuesday, December 12th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Public Storage in a research report on Tuesday, January 30th. They set a “sell” rating and a $250.00 target price on the stock. Truist Financial upped their target price on shares of Public Storage from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, December 28th. Evercore ISI upped their target price on shares of Public Storage from $268.00 to $271.00 and gave the stock an “in-line” rating in a research report on Monday, November 27th. Finally, The Goldman Sachs Group upped their target price on shares of Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $296.25.

Read Our Latest Report on PSA

Insider Buying and Selling 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 shares were sold at an average price of $259.35, for a total transaction of $1,296,750.00. Following the transaction, the director now owns 30,163 shares of the company’s stock, valued at $7,822,774.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 shares were sold at an average price of $259.35, for a total transaction of $1,296,750.00. Following the transaction, the director now owns 30,163 shares of the company’s stock, valued at $7,822,774.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Reyes sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $275.98, for a total transaction of $13,799,000.00. Following the transaction, 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 have sold 55,265 shares of company stock valued at $15,170,525 over the last quarter. Corporate insiders own 10.90% of the company’s stock.

Public Storage Company Profile

(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.

Recommended Stories

Want to see what other hedge funds are holding PSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Storage (NYSE:PSAFree Report).

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

Receive News & Ratings for Public Storage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Public Storage and related companies with MarketBeat.com's FREE daily email newsletter.