Susquehanna Fundamental Investments LLC Invests $3.37 Million in Public Storage (NYSE:PSA)

Susquehanna Fundamental Investments LLC purchased a new stake in Public Storage (NYSE:PSA) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,604 shares of the real estate investment trust’s stock, valued at approximately $3,366,000.

Several other institutional investors have also made changes to their positions in PSA. AdvisorNet Financial Inc increased its holdings in shares of Public Storage by 3.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock worth $347,000 after buying an additional 35 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in Public Storage by 2.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock valued at $476,000 after purchasing an additional 38 shares during the period. Signet Financial Management LLC increased its holdings in Public Storage by 2.1% in the first quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock valued at $555,000 after purchasing an additional 39 shares during the period. Brookstone Capital Management increased its holdings in Public Storage by 3.4% in the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock valued at $354,000 after purchasing an additional 40 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its holdings in Public Storage by 3.5% in the first quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock valued at $357,000 after purchasing an additional 42 shares during the period. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Up 0.4 %

NYSE PSA traded up $1.28 during trading hours on Monday, hitting $303.91. The company’s stock had a trading volume of 134,753 shares, compared to its average volume of 710,880. Public Storage has a 52 week low of $233.18 and a 52 week high of $312.25. The company has a market capitalization of $53.41 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 4.41 and a beta of 0.65. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59. The company’s 50-day simple moving average is $281.87 and its two-hundred day simple moving average is $282.44.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Wednesday, June 12th were paid a $3.00 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 3.95%. Public Storage’s dividend payout ratio is 108.99%.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 400 shares of Public Storage stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $274.29, for a total value of $109,716.00. Following the completion of the transaction, the insider now directly owns 3,214 shares in the company, valued at approximately $881,568.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Public Storage news, insider Nathaniel A. Vitan sold 400 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $274.29, for a total value of $109,716.00. Following the completion of the transaction, the insider now directly owns 3,214 shares of the company’s stock, valued at approximately $881,568.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kristy Pipes purchased 2,149 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was purchased at an average cost of $278.96 per share, with a total value of $599,485.04. Following the completion of the acquisition, the director now owns 2,149 shares in the company, valued at $599,485.04. The disclosure for this purchase can be found here. 11.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PSA has been the subject of a number of recent research reports. Barclays decreased their price objective on Public Storage from $330.00 to $327.00 and set an “overweight” rating for the company in a report on Monday, May 20th. Evercore ISI upped their price target on shares of Public Storage from $289.00 to $300.00 and gave the company an “in-line” rating in a research report on Monday. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research report on Thursday, March 28th. Scotiabank upped their price target on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. Finally, Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $280.00 to $310.00 in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $305.64.

Public Storage Company 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.