Prudent Man Advisors LLC Decreases Stock Holdings in Public Storage (NYSE:PSA)

Prudent Man Advisors LLC reduced its holdings in shares of Public Storage (NYSE:PSA) by 15.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,676 shares of the real estate investment trust’s stock after selling 302 shares during the quarter. Prudent Man Advisors LLC’s holdings in Public Storage were worth $502,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC boosted its holdings in shares of Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Public Storage in the third quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new position in shares of Public Storage during the 3rd quarter valued at approximately $38,000. Synergy Asset Management LLC purchased a new stake in shares of Public Storage during the 4th quarter worth approximately $38,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Public Storage in the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares of the company’s stock, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.00% of the stock is owned by company insiders.

Public Storage Price Performance

NYSE:PSA opened at $303.46 on Friday. The stock has a fifty day moving average of $298.29 and a 200 day moving average of $325.09. The firm has a market capitalization of $53.14 billion, a price-to-earnings ratio of 31.51, a P/E/G ratio of 4.91 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio is currently 112.89%.

About Public Storage

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.