Exencial Wealth Advisors LLC Reduces Holdings in Public Storage (NYSE:PSA)

Exencial Wealth Advisors LLC trimmed its stake in Public Storage (NYSE:PSA) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,439 shares of the real estate investment trust’s stock after selling 423 shares during the period. Exencial Wealth Advisors LLC’s holdings in Public Storage were worth $3,725,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Quent Capital LLC grew its position in shares of Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 50 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Public Storage in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Public Storage in the 3rd quarter valued at $38,000. Synergy Asset Management LLC purchased a new position in shares of Public Storage in the 4th quarter valued at $38,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage in the 3rd quarter valued at $55,000. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Down 1.7 %

PSA stock opened at $305.82 on Wednesday. Public Storage has a one year low of $256.31 and a one year high of $369.99. The stock has a market capitalization of $53.65 billion, a PE ratio of 31.76, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74. 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 company has a fifty day moving average of $298.63 and a 200-day moving average of $325.04.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.92%. Public Storage’s dividend payout ratio is presently 112.89%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PSA. Barclays decreased their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and increased their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial increased their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company decreased their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, Royal Bank of Canada decreased their price target on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $340.69.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 450 shares of the 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 completion of the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 11.00% of the company’s stock.

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.