Public Storage (NYSE:PSA) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC trimmed its holdings in Public Storage (NYSE:PSA) by 25.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,342 shares of the real estate investment trust’s stock after selling 1,507 shares during the period. Private Advisor Group LLC’s holdings in Public Storage were worth $1,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Public Storage by 5.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock worth $16,089,000 after purchasing an additional 2,566 shares during the last quarter. Larson Financial Group LLC grew its stake in Public Storage by 3,714.6% in the third quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock worth $666,000 after purchasing an additional 1,783 shares in the last quarter. Capital Investment Advisors LLC increased its holdings in Public Storage by 25.4% in the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock valued at $8,566,000 after buying an additional 5,793 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Public Storage by 114.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock valued at $33,302,000 after buying an additional 48,803 shares in the last quarter. Finally, Swedbank AB lifted its holdings in Public Storage by 31.9% during the 3rd quarter. Swedbank AB now owns 154,167 shares of the real estate investment trust’s stock worth $56,097,000 after buying an additional 37,285 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays dropped their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada lowered their price objective on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday. Truist Financial increased their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company decreased their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $340.69.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value 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. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 11.00% of the company’s stock.

Public Storage Trading Up 0.4 %

Shares of NYSE:PSA opened at $305.50 on Friday. The company has a 50 day moving average of $298.17 and a 200-day moving average of $325.17. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market cap of $53.50 billion, a P/E ratio of 31.72, a P/E/G ratio of 4.91 and a beta of 0.74. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.93%. Public Storage’s dividend payout ratio is currently 112.89%.

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.