Pring Turner Capital Group Inc. Cuts Position in Public Storage (NYSE:PSA)

Pring Turner Capital Group Inc. decreased its stake in Public Storage (NYSE:PSA) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,033 shares of the real estate investment trust’s stock after selling 159 shares during the period. Public Storage accounts for 3.6% of Pring Turner Capital Group Inc.’s portfolio, making the stock its 7th largest position. Pring Turner Capital Group Inc.’s holdings in Public Storage were worth $5,400,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Public Storage by 5.0% in 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 during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Public Storage by 3,714.6% in the 3rd quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock worth $666,000 after purchasing an additional 1,783 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of Public Storage by 25.4% in the 4th quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock worth $8,566,000 after purchasing an additional 5,793 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Public Storage by 114.2% in 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 lifted 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 worth $56,097,000 after purchasing an additional 37,285 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Down 0.6 %

PSA opened at $302.33 on Tuesday. Public Storage has a one year low of $256.31 and a one year high of $369.99. 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 stock’s fifty day moving average is $297.86 and its 200-day moving average is $325.51. The company has a market capitalization of $52.94 billion, a PE ratio of 31.39, a P/E/G ratio of 4.91 and a beta of 0.74.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PSA. Barclays cut their target price 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. Truist Financial lifted their target price on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Royal Bank of Canada cut their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Finally, Wells Fargo & Company cut their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday. Seven 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 data from MarketBeat.com, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $341.85.

Insider Buying and Selling

In related 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 11.00% of the company’s stock.

About Public Storage

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.