Public Storage (NYSE:PSA) Shares Acquired by Graypoint LLC

Graypoint LLC increased its holdings in shares of Public Storage (NYSE:PSA) by 7.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 747 shares of the real estate investment trust’s stock after buying an additional 52 shares during the period. Graypoint LLC’s holdings in Public Storage were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSA. Prospera Private Wealth LLC bought a new position in Public Storage in the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Public Storage in the 3rd quarter valued at approximately $38,000. Compagnie Lombard Odier SCmA purchased a new stake in Public Storage in the 3rd quarter worth approximately $50,000. Harbor Capital Advisors Inc. purchased a new stake in Public Storage in the 3rd quarter worth approximately $55,000. Finally, Deseret Mutual Benefit Administrators raised its holdings in shares of Public Storage by 39.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 206 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

NYSE PSA opened at $288.65 on Monday. 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 firm’s fifty day moving average price is $321.09 and its two-hundred day moving average price is $325.66. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The firm has a market capitalization of $50.55 billion, a P/E ratio of 29.97, a price-to-earnings-growth ratio of 5.29 and a beta of 0.74.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $3.00 dividend. The ex-dividend date was Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.16%. Public Storage’s dividend payout ratio is currently 124.61%.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the company’s 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 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 link. Corporate insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the stock from $298.00 to $299.00 in a research report on Friday. Jefferies Financial Group raised their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company reduced 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 target on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, Truist Financial lifted their price target 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. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and an average target price of $346.00.

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.