Fjarde AP Fonden Fourth Swedish National Pension Fund Has $11.61 Million Holdings in Public Storage (NYSE:PSA)

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its position in Public Storage (NYSE:PSA) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,772 shares of the real estate investment trust’s stock after selling 3,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Public Storage were worth $11,610,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PSA. Quent Capital LLC raised its position in shares of Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 50 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Public Storage during the third quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new stake in Public Storage in the third quarter worth approximately $38,000. Synergy Asset Management LLC bought a new stake in Public Storage in the fourth quarter worth approximately $38,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Public Storage in 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 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 completion of the sale, the insider now owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 11.00% of the company’s stock.

Public Storage Stock Up 0.1 %

Shares of NYSE:PSA opened at $304.30 on Monday. The business’s 50 day moving average is $298.12 and its 200 day moving average is $325.59. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The stock has a market cap of $53.29 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 4.91 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.

Wall Street Analysts Forecast Growth

PSA has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. 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 report on Friday, November 8th. Wells Fargo & Company dropped their price objective on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and raised their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, 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. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average price target of $341.85.

Public Storage 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.