Public Storage (NYSE:PSA) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC decreased its stake in shares of Public Storage (NYSE:PSA) by 17.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 861 shares of the real estate investment trust’s stock after selling 177 shares during the period. Wealthspire Advisors LLC’s holdings in Public Storage were worth $258,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. S.A. Mason LLC increased its position in shares of Public Storage by 3.8% in the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 30 shares in the last quarter. Haverford Trust Co lifted its stake in Public Storage by 0.7% in the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock valued at $1,558,000 after acquiring an additional 30 shares during the last quarter. Huntington National Bank lifted its stake in Public Storage by 5.4% in the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 33 shares during the last quarter. Chesapeake Wealth Management lifted its stake in Public Storage by 2.2% in the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock valued at $560,000 after acquiring an additional 33 shares during the last quarter. Finally, Lindenwold Advisors INC lifted its stake in shares of Public Storage by 0.8% in the third quarter. Lindenwold Advisors INC now owns 4,390 shares of the real estate investment trust’s stock worth $1,597,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the transaction, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PSA. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Barclays lowered their price target 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. Royal Bank of Canada lowered their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday. Wells Fargo & Company lowered their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Truist Financial increased their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.69.

Public Storage Stock Up 0.4 %

Shares of NYSE PSA opened at $305.50 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market cap of $53.50 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 4.91 and a beta of 0.74. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The stock has a 50-day moving average price of $298.17 and a two-hundred day moving average price of $325.17.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 3.93%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

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.