G&S Capital LLC Has $601,000 Stock Position in Public Storage (NYSE:PSA)

G&S Capital LLC grew its position in Public Storage (NYSE:PSA) by 109.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,073 shares of the real estate investment trust’s stock after buying an additional 1,084 shares during the period. G&S Capital LLC’s holdings in Public Storage were worth $601,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PSA. EverSource Wealth Advisors LLC grew its stake in shares of Public Storage by 107.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 44 shares during the period. Core Wealth Advisors Inc. acquired a new stake in shares of Public Storage during the fourth quarter worth $30,000. EdgeRock Capital LLC acquired a new stake in shares of Public Storage during the fourth quarter worth $32,000. Private Ocean LLC grew its stake in shares of Public Storage by 5,450.0% during the fourth quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 109 shares during the period. Finally, Centerpoint Advisors LLC bought a new position in Public Storage during the fourth quarter worth about $35,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Public Storage news, Director Kristy Pipes purchased 2,149 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average price of $278.96 per share, with a total value of $599,485.04. Following the transaction, the director now owns 2,149 shares in the company, valued at $599,485.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Public Storage news, Director Kristy Pipes purchased 2,149 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average price of $278.96 per share, with a total value of $599,485.04. Following the transaction, the director now owns 2,149 shares in the company, valued at $599,485.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nathaniel A. Vitan sold 400 shares of Public Storage stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $274.29, for a total transaction of $109,716.00. Following the transaction, the insider now directly owns 3,214 shares in the company, valued at approximately $881,568.06. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. BMO Capital Markets lifted their target price on Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $280.00 to $310.00 in a report on Friday, April 5th. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a report on Thursday, March 28th. Scotiabank boosted their price target on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a report on Monday, March 18th. Finally, Barclays cut their price target on Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a report on Monday, May 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $303.00.

Public Storage Stock Performance

Shares of Public Storage stock opened at $288.29 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59. The business has a 50-day moving average price of $274.58 and a two-hundred day moving average price of $282.64. Public Storage has a 1-year low of $233.18 and a 1-year high of $312.25. The company has a market cap of $50.66 billion, a P/E ratio of 26.18, a PEG ratio of 4.05 and a beta of 0.63.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be paid a $3.00 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.16%. Public Storage’s dividend payout ratio is presently 108.99%.

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.