Atria Investments Inc Trims Holdings in Public Storage (NYSE:PSA)

Atria Investments Inc lessened its holdings in Public Storage (NYSE:PSA - Free Report) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,126 shares of the real estate investment trust's stock after selling 813 shares during the period. Atria Investments Inc's holdings in Public Storage were worth $1,535,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quent Capital LLC increased its holdings 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 worth $26,000 after buying an additional 50 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in Public Storage during the third quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage during the third quarter valued at approximately $38,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage in the 4th quarter valued at approximately $38,000. Finally, Toth Financial Advisory Corp boosted its holdings in shares of Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock worth $61,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Down 1.5 %

Shares of NYSE PSA traded down $4.76 during mid-day trading on Wednesday, reaching $303.45. 247,354 shares of the company were exchanged, compared to its average volume of 712,818. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The firm has a 50-day moving average of $299.84 and a 200 day moving average of $324.37. The stock has a market cap of $53.23 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 4.91 and a beta of 0.73. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

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Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 3.95%. Public Storage's dividend payout ratio (DPR) is 112.89%.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the firm'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 transaction, the insider now owns 2,364 shares of the company's stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 11.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays restated an "overweight" rating and set a $354.00 target price (down previously from $361.00) on shares of Public Storage in a research report on Wednesday. Wells Fargo & Company cut 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. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a "sell" rating to a "hold" rating and lifted their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Royal Bank of Canada reduced their price target on shares of 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. Finally, Truist Financial lifted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a report on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Public Storage has a consensus rating of "Moderate Buy" and a consensus price target of $339.69.

About Public Storage

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.