M&T Bank Corp lowered its stake in Public Storage (NYSE:PSA – Free Report) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,922 shares of the real estate investment trust’s stock after selling 857 shares during the period. M&T Bank Corp’s holdings in Public Storage were worth $7,976,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC purchased a new stake in shares of Public Storage in the third quarter worth $34,000. Ashton Thomas Securities LLC bought a new position in Public Storage in the 3rd quarter worth about $38,000. Compagnie Lombard Odier SCmA purchased a new stake in Public Storage during the 3rd quarter valued at about $50,000. Harbor Capital Advisors Inc. bought a new stake in Public Storage during the 3rd quarter valued at about $55,000. Finally, Deseret Mutual Benefit Administrators raised its holdings in Public Storage by 39.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 206 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 58 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.
Insider Activity
In other Public Storage 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 completion of the sale, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 11.00% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on PSA
Public Storage Trading Up 2.8 %
Shares of NYSE:PSA opened at $297.50 on Monday. The stock has a 50 day moving average of $333.10 and a 200 day moving average of $323.89. The company has a market cap of $52.09 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 5.29 and a beta of 0.71. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.
Public Storage Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.03%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.
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.
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