Howard Capital Management Inc. Acquires 54 Shares of Public Storage (NYSE:PSA)

Howard Capital Management Inc. raised its holdings in shares of Public Storage (NYSE:PSA) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,045 shares of the real estate investment trust’s stock after purchasing an additional 54 shares during the period. Howard Capital Management Inc.’s holdings in Public Storage were worth $313,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quent Capital LLC increased its stake in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Public Storage during the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Public Storage during the third quarter valued at approximately $38,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage during the fourth quarter valued at approximately $38,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Public Storage during the third quarter valued at approximately $55,000. Institutional investors own 78.79% of the company’s stock.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the sale, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.00% of the stock is currently owned by insiders.

Public Storage Stock Performance

Shares of NYSE PSA opened at $302.33 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $52.94 billion, a P/E ratio of 31.39, a P/E/G ratio of 4.91 and a beta of 0.74. The firm’s fifty day moving average is $297.86 and its two-hundred day moving average is $325.51. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99.

Public Storage (NYSE:PSA) last announced its quarterly earnings results on Monday, February 24th. The real estate investment trust reported $4.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.23 by ($0.02). Public Storage had a net margin of 40.54% and a return on equity of 34.07%. As a group, analysts anticipate that Public Storage will post 16.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PSA. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company reduced their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday. Royal Bank of Canada reduced their price target 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. Truist Financial raised their price target 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. Finally, Barclays cut their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and a consensus target price of $341.85.

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.