CWA Asset Management Group LLC Has $14.92 Million Stock Holdings in Public Storage (NYSE:PSA)

CWA Asset Management Group LLC reduced its stake in Public Storage (NYSE:PSA) by 3.9% during the 4th quarter, HoldingsChannel reports. The firm owned 49,823 shares of the real estate investment trust’s stock after selling 2,013 shares during the quarter. Public Storage makes up approximately 0.8% of CWA Asset Management Group LLC’s holdings, making the stock its 29th biggest holding. CWA Asset Management Group LLC’s holdings in Public Storage were worth $14,919,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Public Storage by 732.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock valued at $561,763,000 after purchasing an additional 1,358,493 shares during the period. Adelante Capital Management LLC grew its holdings in Public Storage by 389.9% during the 3rd quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust’s stock valued at $532,465,000 after buying an additional 1,164,630 shares in the last quarter. FMR LLC increased its stake in Public Storage by 20.9% in the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock valued at $1,828,763,000 after acquiring an additional 869,066 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Public Storage by 57.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust’s stock valued at $405,278,000 after buying an additional 405,847 shares during the period. Finally, AQR Capital Management LLC grew its stake in Public Storage by 116.7% in the second quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust’s stock worth $111,077,000 after purchasing an additional 208,546 shares during the period. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PSA. Wells Fargo & Company dropped their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Barclays cut their price objective on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Truist Financial upped their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Jefferies Financial Group lifted their price objective on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Morgan Stanley increased their target price on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $342.07.

Insider Activity

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 11.00% of the company’s stock.

Public Storage Trading Down 0.5 %

Shares of Public Storage stock traded down $1.50 during midday trading on Monday, reaching $298.95. 96,671 shares of the company’s stock traded hands, compared to its average volume of 428,127. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. 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 stock has a 50 day moving average of $324.74 and a 200-day moving average of $325.52. The company has a market cap of $52.35 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 5.29 and a beta of 0.74.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is 124.61%.

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.