Swedbank AB Grows Holdings in Public Storage (NYSE:PSA)

Swedbank AB increased its position in shares of Public Storage (NYSE:PSA) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 159,577 shares of the real estate investment trust’s stock after buying an additional 5,410 shares during the period. Swedbank AB’s holdings in Public Storage were worth $47,784,000 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 the company. Robeco Institutional Asset Management B.V. increased its stake in Public Storage by 2.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 10,346 shares of the real estate investment trust’s stock worth $3,098,000 after buying an additional 214 shares during the period. Capital Investment Counsel LLC acquired a new position in Public Storage during the 4th quarter worth $3,154,000. Atticus Wealth Management LLC grew its holdings in Public Storage by 10.0% during the 4th quarter. Atticus Wealth Management LLC now owns 816 shares of the real estate investment trust’s stock worth $244,000 after acquiring an additional 74 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Public Storage during the 4th quarter worth $1,647,000. Finally, Blue Trust Inc. grew its holdings in Public Storage by 51.4% during the 4th quarter. Blue Trust Inc. now owns 2,392 shares of the real estate investment trust’s stock worth $716,000 after acquiring an additional 812 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PSA shares. Wells Fargo & Company decreased their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Morgan Stanley raised their price objective on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada decreased 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. Finally, Barclays decreased their price target 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. Seven research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $344.54.

Insider Activity at Public Storage

In other Public Storage 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 transaction of $143,095.50. Following the sale, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.00% of the stock is currently owned by insiders.

Public Storage Trading Down 1.0 %

Shares of NYSE:PSA opened at $294.45 on Thursday. The company has a market cap of $51.56 billion, a PE ratio of 30.58, a P/E/G ratio of 4.68 and a beta of 0.74. The company’s 50-day moving average price is $311.40 and its 200 day moving average price is $326.04. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

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.