Public Storage (NYSE:PSA) Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp raised its holdings in Public Storage (NYSE:PSA) by 53.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,234 shares of the real estate investment trust’s stock after acquiring an additional 6,706 shares during the period. Jones Financial Companies Lllp’s holdings in Public Storage were worth $5,759,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSA. Quent Capital LLC boosted its stake in shares of Public Storage by 135.1% in the fourth 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 acquired a new position in Public Storage in the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage in the 3rd quarter worth approximately $38,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage during the 4th quarter worth approximately $38,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Public Storage during the 3rd quarter worth approximately $55,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.00% of the stock is currently owned by company insiders.

Public Storage Stock Down 1.7 %

NYSE PSA opened at $305.82 on Wednesday. The business has a fifty day moving average price of $298.63 and a 200 day moving average price of $325.04. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $53.65 billion, a P/E ratio of 31.76, a P/E/G ratio of 4.91 and a beta of 0.74. Public Storage has a one year low of $256.31 and a one year high of $369.99.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is 112.89%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Truist Financial increased their target price 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. Wells Fargo & Company dropped their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and upped their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Barclays dropped their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.69.

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.