Pathstone Family Office LLC Takes Position in Public Storage (NYSE:PSA)

Pathstone Family Office LLC acquired a new position in shares of Public Storage (NYSE:PSAFree Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,922 shares of the real estate investment trust’s stock, valued at approximately $1,299,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rathbones Group PLC increased its holdings in Public Storage by 101.7% in the second quarter. Rathbones Group PLC now owns 3,267 shares of the real estate investment trust’s stock valued at $954,000 after buying an additional 1,647 shares during the last quarter. Savant Capital LLC lifted its stake in Public Storage by 9.7% during the second quarter. Savant Capital LLC now owns 1,162 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 103 shares during the last quarter. Petredis Investment Advisors LLC acquired a new position in Public Storage in the second quarter worth $2,261,000. Apollon Wealth Management LLC increased its stake in Public Storage by 48.7% during the second quarter. Apollon Wealth Management LLC now owns 1,291 shares of the real estate investment trust’s stock valued at $377,000 after purchasing an additional 423 shares during the last quarter. Finally, GAM Holding AG acquired a new stake in shares of Public Storage during the third quarter worth $7,850,000. Institutional investors own 78.75% of the company’s stock.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 265 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $282.17, for a total transaction of $74,775.05. Following the sale, the insider now directly owns 13,021 shares in the company, valued at approximately $3,674,135.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Avedick Baruyr Poladian sold 5,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $7,822,774.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nathaniel A. Vitan sold 265 shares of Public Storage stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $282.17, for a total value of $74,775.05. Following the transaction, the insider now directly owns 13,021 shares in the company, valued at $3,674,135.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,265 shares of company stock valued at $15,170,525. Company insiders own 10.90% of the company’s stock.

Public Storage Price Performance

Shares of NYSE PSA opened at $281.34 on Tuesday. The stock has a market cap of $49.47 billion, a P/E ratio of 25.79, a P/E/G ratio of 3.91 and a beta of 0.55. The firm’s 50-day simple moving average is $290.35 and its 200 day simple moving average is $274.27. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $316.48. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.54.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PSA shares. 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 price objective for the company. The Goldman Sachs Group raised their price target on Public Storage from $307.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Wells Fargo & Company downgraded Public Storage from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $270.00 to $280.00 in a research note on Tuesday, December 12th. Truist Financial raised their target price on Public Storage from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, December 28th. Finally, Evercore ISI upped their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $296.25.

View Our Latest Research Report on PSA

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.

Featured 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.