Chatham Capital Group Inc. Sells 76 Shares of Public Storage (NYSE:PSA)

Chatham Capital Group Inc. decreased its holdings in shares of Public Storage (NYSE:PSA) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,420 shares of the real estate investment trust’s stock after selling 76 shares during the period. Chatham Capital Group Inc.’s holdings in Public Storage were worth $3,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PSA. O Shaughnessy Asset Management LLC boosted its holdings in Public Storage by 18.5% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 9,470 shares of the real estate investment trust’s stock worth $2,496,000 after buying an additional 1,481 shares during the period. Mather Group LLC. lifted its stake in Public Storage by 9.7% in the 3rd quarter. Mather Group LLC. now owns 2,436 shares of the real estate investment trust’s stock worth $642,000 after purchasing an additional 216 shares in the last quarter. Synovus Financial Corp lifted its stake in Public Storage by 6.7% in the 3rd quarter. Synovus Financial Corp now owns 4,335 shares of the real estate investment trust’s stock worth $1,143,000 after purchasing an additional 273 shares in the last quarter. Bank of Nova Scotia lifted its stake in Public Storage by 14.3% in the 3rd quarter. Bank of Nova Scotia now owns 15,086 shares of the real estate investment trust’s stock worth $3,975,000 after purchasing an additional 1,886 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its stake in Public Storage by 150.7% in the 3rd quarter. Gotham Asset Management LLC now owns 2,773 shares of the real estate investment trust’s stock worth $731,000 after purchasing an additional 1,667 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PSA. Barclays decreased their target price on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock 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 upped their target price for the company from $280.00 to $310.00 in a research report on Friday, April 5th. BMO Capital Markets upped their target price on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. Raymond James upgraded shares of 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. Finally, Scotiabank upped their price target on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a report on Monday, March 18th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $303.00.

Public Storage Stock Up 0.4 %

NYSE PSA traded up $1.10 on Friday, hitting $287.65. The stock had a trading volume of 1,790,167 shares, compared to its average volume of 741,451. The business’s fifty day moving average price is $276.19 and its 200 day moving average price is $282.86. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.54. Public Storage has a 52-week low of $233.18 and a 52-week high of $312.25. The stock has a market cap of $50.55 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 4.02 and a beta of 0.63.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Wednesday, June 12th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Wednesday, June 12th. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.

Insider Buying and Selling

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

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.