Schechter Investment Advisors LLC Has $471,000 Stock Position in Public Storage (NYSE:PSA)

Schechter Investment Advisors LLC trimmed its stake in shares of Public Storage (NYSE:PSA) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,573 shares of the real estate investment trust’s stock after selling 122 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Public Storage were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC boosted its holdings in Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Public Storage during the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage during the third quarter valued at approximately $38,000. Synergy Asset Management LLC acquired a new stake in Public Storage during the fourth quarter valued at approximately $38,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in Public Storage during the third quarter valued at approximately $55,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Up 1.8 %

NYSE:PSA opened at $311.58 on Thursday. The stock’s fifty day moving average price is $298.85 and its two-hundred day moving average price is $324.95. Public Storage has a 52-week low of $256.31 and a 52-week 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 company has a market cap of $54.66 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 4.91 and a beta of 0.74.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

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 on 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 sale, the insider now owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PSA shares. Wells Fargo & Company decreased their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Barclays reduced their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Scotiabank reduced their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a report on Wednesday. Royal Bank of Canada reduced their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Finally, Truist Financial boosted their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $340.23.

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.