WD Rutherford LLC Has $1.37 Million Stock Holdings in Public Storage (NYSE:PSA)

WD Rutherford LLC boosted its holdings in shares of Public Storage (NYSE:PSA) by 202.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,717 shares of the real estate investment trust’s stock after buying an additional 3,156 shares during the period. WD Rutherford LLC’s holdings in Public Storage were worth $1,368,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of Public Storage by 107.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 44 shares in the last quarter. Core Wealth Advisors Inc. bought a new stake in shares of Public Storage in the 4th quarter worth $30,000. EdgeRock Capital LLC bought a new stake in shares of Public Storage in the 4th quarter worth $32,000. Private Ocean LLC grew its stake in shares of Public Storage by 5,450.0% in the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 109 shares in the last quarter. Finally, Centerpoint Advisors LLC bought a new stake in shares of Public Storage in the 4th quarter worth $35,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Buying and Selling at Public Storage

In other Public Storage news, Director Kristy Pipes acquired 2,149 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average cost of $278.96 per share, with a total value of $599,485.04. Following the completion of the acquisition, the director now directly owns 2,149 shares in the company, valued at $599,485.04. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Nathaniel A. Vitan sold 400 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $274.29, for a total value of $109,716.00. Following the sale, the insider now directly owns 3,214 shares of the company’s stock, valued at $881,568.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kristy Pipes purchased 2,149 shares of the stock in a transaction dated Tuesday, May 14th. The stock was purchased at an average cost of $278.96 per share, for a total transaction of $599,485.04. Following the completion of the acquisition, the director now owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The disclosure for this purchase can be found here. Insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

Public Storage Stock Performance

NYSE PSA traded up $1.10 during trading on Friday, hitting $287.65. 1,790,167 shares of the company’s stock traded hands, compared to its average volume of 741,451. The stock has a market capitalization of $50.55 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 4.00 and a beta of 0.63. Public Storage has a 12-month low of $233.18 and a 12-month high of $312.25. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.54 and a current ratio of 0.54. The business has a 50 day moving average of $276.19 and a 200-day moving average of $282.79.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Wednesday, June 12th. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.

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.