Federated Hermes Inc. decreased its holdings in Public Storage (NYSE: PSA) by 21.7% during the third quarter, according to its latest 13F filing with the SEC. The investment firm sold 25,041 shares, leaving it with 90,277 shares of the real estate investment trust at the end of the period. This represents approximately 0.05% ownership of Public Storage.
**Why this matters**
Changes in institutional holdings can signal shifts in investor confidence or portfolio strategy. Federated Hermes Inc.’s reduction in Public Storage shares may reflect a reassessment of the stock’s outlook or a reallocation of assets within the fund. Investors often monitor such moves to gauge market sentiment and potential impacts on stock performance.