Avidian Wealth Enterprises LLC Acquires 221 Shares of Public Storage (NYSE:PSA)

Avidian Wealth Enterprises LLC increased its holdings in Public Storage (NYSE:PSA) by 7.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,399 shares of the real estate investment trust’s stock after purchasing an additional 221 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Public Storage were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in 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 buying an additional 2,566 shares during the period. Capital Investment Advisors LLC boosted its holdings in 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 buying an additional 5,793 shares during the period. Larson Financial Group LLC boosted its holdings in 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 buying an additional 1,783 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Public Storage by 1.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock worth $51,762,000 after buying an additional 2,605 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in 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 buying an additional 48,803 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Performance

Public Storage stock opened at $300.13 on Thursday. The firm’s fifty day moving average price is $302.67 and its 200-day moving average price is $325.89. 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 has a market cap of $52.56 billion, a P/E ratio of 31.17, a price-to-earnings-growth ratio of 4.88 and a beta of 0.74. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the sale, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 11.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PSA shares. Barclays cut their price objective on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Truist Financial increased their target price on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company lowered their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and increased their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada lowered their target price on shares of 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. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $344.54.

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.