Inspire Advisors LLC Has $616,000 Stock Position in Public Storage (NYSE:PSA)

Inspire Advisors LLC lowered its position in shares of Public Storage (NYSE:PSA) by 19.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,058 shares of the real estate investment trust’s stock after selling 502 shares during the quarter. Inspire Advisors LLC’s holdings in Public Storage were worth $616,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PSA. Sigma Planning Corp acquired a new stake in shares of Public Storage in the 3rd quarter valued at approximately $238,000. Legacy Capital Wealth Partners LLC acquired a new stake in shares of Public Storage in the 3rd quarter valued at approximately $224,000. Axxcess Wealth Management LLC raised its stake in Public Storage by 68.2% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,709 shares of the real estate investment trust’s stock valued at $622,000 after acquiring an additional 693 shares during the period. Ashton Thomas Securities LLC bought a new stake in Public Storage in the 3rd quarter valued at $38,000. Finally, Apollon Wealth Management LLC raised its stake in Public Storage by 26.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,688 shares of the real estate investment trust’s stock valued at $614,000 after acquiring an additional 354 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PSA. Scotiabank dropped their price target on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada dropped their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Truist Financial increased their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and increased their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Wells Fargo & Company lowered their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $340.23.

Public Storage Stock Down 1.7 %

Shares of NYSE PSA opened at $308.21 on Wednesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The stock has a market capitalization of $54.06 billion, a P/E ratio of 32.00, a PEG ratio of 4.91 and a beta of 0.73. The stock’s fifty day moving average is $299.84 and its 200 day moving average is $324.37.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s payout ratio is currently 112.89%.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 450 shares of the firm’s 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 transaction, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.10% of the stock is owned by company insiders.

Public Storage 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.