Public Storage (NYSE:PSA) Shares Sold by PFG Advisors

PFG Advisors decreased its holdings in Public Storage (NYSE:PSA) by 20.4% in the first quarter, Holdings Channel reports. The firm owned 1,537 shares of the real estate investment trust’s stock after selling 394 shares during the period. PFG Advisors’ holdings in Public Storage were worth $446,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PSA. EverSource Wealth Advisors LLC boosted its position 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 purchasing an additional 44 shares in the last quarter. Core Wealth Advisors Inc. acquired a new stake in shares of Public Storage in the 4th quarter worth $30,000. EdgeRock Capital LLC acquired a new stake in shares of Public Storage in the 4th quarter worth $32,000. Private Ocean LLC boosted its position 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 purchasing an additional 109 shares in the last quarter. Finally, Centerpoint Advisors LLC acquired 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.

Public Storage Stock Performance

Shares of NYSE PSA traded up $6.00 during trading on Friday, reaching $302.63. 679,339 shares of the company traded hands, compared to its average volume of 661,454. The firm’s fifty day simple moving average is $281.87 and its 200 day simple moving average is $282.73. The stock has a market cap of $53.18 billion, a P/E ratio of 27.49, a PEG ratio of 4.32 and a beta of 0.65. Public Storage has a 12-month low of $233.18 and a 12-month high of $312.25. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Wednesday, June 12th were paid a $3.00 dividend. The ex-dividend date was Wednesday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 3.97%. Public Storage’s dividend payout ratio is presently 108.99%.

Insider Activity at Public Storage

In other Public Storage 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 purchased at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the purchase, the director now directly 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 can be accessed through this hyperlink. In other Public Storage 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 purchased at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the purchase, the director now directly 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 can be accessed through this hyperlink. Also, insider Nathaniel A. Vitan sold 400 shares of Public Storage 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 completion of the transaction, the insider now 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.

Analyst Ratings Changes

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

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.