Kingswood Wealth Advisors LLC Boosts Stake in Public Storage (NYSE:PSA)

Kingswood Wealth Advisors LLC raised its position in Public Storage (NYSE:PSA) by 22.9% during the fourth quarter, Holdings Channel reports. The firm owned 2,004 shares of the real estate investment trust’s stock after buying an additional 374 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Public Storage were worth $600,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PSA. Regatta Capital Group LLC boosted its holdings in Public Storage by 2.0% during the 4th quarter. Regatta Capital Group LLC now owns 3,492 shares of the real estate investment trust’s stock valued at $1,046,000 after acquiring an additional 67 shares during the period. Jamison Private Wealth Management Inc. increased its position in shares of Public Storage by 85.9% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 1,930 shares of the real estate investment trust’s stock worth $578,000 after acquiring an additional 892 shares during the period. Toth Financial Advisory Corp raised its stake in shares of Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 66 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in Public Storage by 97.5% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 8,349 shares of the real estate investment trust’s stock valued at $2,500,000 after purchasing an additional 4,122 shares during the period. Finally, CX Institutional grew its stake in Public Storage by 60.3% during the 4th quarter. CX Institutional now owns 1,266 shares of the real estate investment trust’s stock worth $379,000 after purchasing an additional 476 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Public Storage

In other Public Storage 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 transaction, the insider now directly owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 11.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Morgan Stanley boosted their price target 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 upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada dropped their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Finally, Barclays decreased their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and an average price target of $344.54.

Public Storage Trading Down 1.0 %

PSA opened at $294.45 on Thursday. 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 has a 52 week low of $256.31 and a 52 week high of $369.99. The business’s 50 day moving average is $311.40 and its two-hundred day moving average is $326.04. The firm has a market cap of $51.56 billion, a price-to-earnings ratio of 30.58, a price-to-earnings-growth ratio of 4.68 and a beta of 0.74.

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.