Schechter Investment Advisors LLC Has $471,000 Stock Holdings in Public Storage (NYSE:PSA)

Schechter Investment Advisors LLC lessened its holdings in Public Storage (NYSE:PSA) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,573 shares of the real estate investment trust’s stock after selling 122 shares during the period. Schechter Investment Advisors LLC’s holdings in Public Storage were worth $471,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Public Storage by 5.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock valued at $16,089,000 after purchasing an additional 2,566 shares during the last quarter. Larson Financial Group LLC boosted its position in Public Storage by 3,714.6% during the third quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock valued at $666,000 after purchasing an additional 1,783 shares during the last quarter. Capital Investment Advisors LLC boosted its position in Public Storage by 25.4% during the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock valued at $8,566,000 after purchasing an additional 5,793 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Public Storage by 114.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock valued at $33,302,000 after purchasing an additional 48,803 shares during the last quarter. Finally, Swedbank AB boosted its position in Public Storage by 31.9% during the third quarter. Swedbank AB now owns 154,167 shares of the real estate investment trust’s stock valued at $56,097,000 after purchasing an additional 37,285 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the business’s 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 transaction, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 11.00% of the company’s stock.

Public Storage Trading Up 1.8 %

Public Storage stock opened at $311.58 on Thursday. 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 business’s 50-day simple moving average is $298.85 and its 200-day simple moving average is $324.95. The firm has a market capitalization of $54.66 billion, a PE ratio of 32.35, a PEG ratio of 4.91 and a beta of 0.74. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 3.85%. Public Storage’s dividend payout ratio is 112.89%.

Analysts Set New Price Targets

PSA has been the topic of several recent research reports. Royal Bank of Canada cut their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Scotiabank cut their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and raised their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Wells Fargo & Company cut their target price on 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 raised their target price on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $340.23.

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.