Quent Capital LLC Purchases 50 Shares of Public Storage (NYSE:PSA)

Quent Capital LLC lifted its position in Public Storage (NYSE:PSA) by 135.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87 shares of the real estate investment trust’s stock after acquiring an additional 50 shares during the quarter. Quent Capital LLC’s holdings in Public Storage were worth $26,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PSA. Exchange Traded Concepts LLC lifted its holdings in shares of Public Storage by 4.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,953 shares of the real estate investment trust’s stock worth $711,000 after acquiring an additional 85 shares during the last quarter. CX Institutional boosted its position in Public Storage by 6.9% in the 3rd quarter. CX Institutional now owns 790 shares of the real estate investment trust’s stock valued at $287,000 after buying an additional 51 shares during the period. Creative Planning boosted its position in Public Storage by 13.1% in the 3rd quarter. Creative Planning now owns 21,985 shares of the real estate investment trust’s stock valued at $8,000,000 after buying an additional 2,550 shares during the period. NBC Securities Inc. boosted its position in Public Storage by 51.3% in the 3rd quarter. NBC Securities Inc. now owns 422 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 143 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its position in Public Storage by 2.6% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 3,709 shares of the real estate investment trust’s stock valued at $1,350,000 after buying an additional 94 shares during the period. Institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 0.4 %

NYSE PSA opened at $301.37 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market cap of $52.77 billion, a PE ratio of 31.29, a price-to-earnings-growth ratio of 4.88 and a beta of 0.74. The company has a 50 day moving average price of $301.98 and a 200 day moving average price of $325.71. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Wall Street Analyst Weigh In

PSA has been the subject of several research reports. Royal Bank of Canada lowered their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and boosted their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company lowered their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Truist Financial boosted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, Barclays lowered their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. 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 company’s stock. According to data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $344.54.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 11.00% of the stock is currently owned by company insiders.

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.