Capital Investment Advisors LLC Increases Position in Public Storage (NYSE:PSA)

Capital Investment Advisors LLC raised its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 25.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,608 shares of the real estate investment trust's stock after acquiring an additional 5,793 shares during the quarter. Capital Investment Advisors LLC's holdings in Public Storage were worth $8,566,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Public Storage by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust's stock worth $51,762,000 after purchasing an additional 2,605 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Public Storage by 114.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust's stock valued at $33,302,000 after buying an additional 48,803 shares during the last quarter. Larson Financial Group LLC increased its position in Public Storage by 3,714.6% during the third quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust's stock worth $666,000 after buying an additional 1,783 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Public Storage by 4.1% in the third quarter. Handelsbanken Fonder AB now owns 72,741 shares of the real estate investment trust's stock worth $26,468,000 after acquiring an additional 2,832 shares during the last quarter. Finally, Equitable Trust Co. lifted its position in shares of Public Storage by 3.1% in the third quarter. Equitable Trust Co. now owns 77,959 shares of the real estate investment trust's stock valued at $28,367,000 after acquiring an additional 2,344 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank of Canada dropped their price objective on Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. Jefferies Financial Group lifted their price target on shares of Public Storage from $360.00 to $422.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Morgan Stanley upped their price objective on shares of Public Storage from $293.00 to $315.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 2nd. Truist Financial lifted their target price 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. Finally, Wells Fargo & Company cut their price target on Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $344.54.

Public Storage Trading Up 0.3 %

Shares of NYSE PSA traded up $1.01 during midday trading on Monday, hitting $290.00. The stock had a trading volume of 709,392 shares, compared to its average volume of 678,881. The company has a fifty day moving average price of $321.09 and a 200 day moving average price of $325.66. The company has a market capitalization of $50.78 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 5.29 and a beta of 0.74. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $3.00 per share. The ex-dividend date was Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 4.14%. Public Storage's dividend payout ratio is currently 124.61%.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 11.00% of the company's stock.

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.