Capital Advisory Group Advisory Services LLC Acquires 208 Shares of Public Storage (NYSE:PSA)

Capital Advisory Group Advisory Services LLC boosted its holdings in Public Storage (NYSE:PSA) by 7.1% in the fourth quarter, Holdings Channel reports. The firm owned 3,151 shares of the real estate investment trust’s stock after purchasing an additional 208 shares during the quarter. Capital Advisory Group Advisory Services LLC’s holdings in Public Storage were worth $944,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSA. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Public Storage by 5.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock worth $16,089,000 after purchasing an additional 2,566 shares in the last quarter. Larson Financial Group LLC raised its position in Public Storage by 3,714.6% during the third quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock worth $666,000 after acquiring an additional 1,783 shares in the last quarter. Capital Investment Advisors LLC lifted its stake in Public Storage by 25.4% in the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock valued at $8,566,000 after acquiring an additional 5,793 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Public Storage by 114.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock worth $33,302,000 after purchasing an additional 48,803 shares during the last quarter. Finally, Swedbank AB raised its holdings in shares of Public Storage by 31.9% in the 3rd quarter. Swedbank AB now owns 154,167 shares of the real estate investment trust’s stock valued at $56,097,000 after purchasing an additional 37,285 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Performance

NYSE PSA opened at $303.67 on Friday. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The firm has a 50-day moving average price of $298.38 and a two-hundred day moving average price of $325.39. The company has a market capitalization of $53.18 billion, a P/E ratio of 31.53, a P/E/G ratio of 4.80 and a beta of 0.74. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Insider Activity 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. 11.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PSA has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and boosted their target price for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Barclays dropped their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada reduced their price objective on shares of 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, Truist Financial increased their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $344.54.

Public Storage Company 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.