Winebrenner Capital Management LLC Invests $639,000 in Public Storage (NYSE:PSA)

Winebrenner Capital Management LLC acquired a new stake in shares of Public Storage (NYSE:PSA) during the 4th quarter, Holdings Channel reports. The fund acquired 2,134 shares of the real estate investment trust’s stock, valued at approximately $639,000.

Several other institutional investors and hedge funds have also modified their holdings of PSA. Quent Capital LLC raised its holdings in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage during the third quarter worth $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Public Storage in the third quarter valued at $38,000. Synergy Asset Management LLC acquired a new position in Public Storage in the fourth quarter valued at $38,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Public Storage in the third quarter valued at $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of research analyst reports. Barclays decreased 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. Royal Bank of Canada decreased 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 report on Friday, November 8th. Truist Financial upped their price target 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. Deutsche Bank Aktiengesellschaft upgraded 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. Finally, Wells Fargo & Company dropped their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $341.85.

Public Storage Trading Up 0.1 %

Shares of PSA opened at $304.30 on Friday. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The stock’s 50-day moving average is $298.12 and its two-hundred day moving average is $325.39. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $53.29 billion, a PE ratio of 31.60, a P/E/G ratio of 4.91 and a beta of 0.74.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 11.00% of the company’s stock.

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.