Jones Financial Companies Lllp Has $5.76 Million Holdings in Public Storage (NYSE:PSA)

Jones Financial Companies Lllp increased its stake in Public Storage (NYSE:PSA - Free Report) by 53.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,234 shares of the real estate investment trust's stock after buying an additional 6,706 shares during the period. Jones Financial Companies Lllp's holdings in Public Storage were worth $5,759,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quent Capital LLC boosted its holdings in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 50 shares during the period. Prospera Private Wealth LLC acquired a new position in Public Storage in the third quarter worth $34,000. Ashton Thomas Securities LLC acquired a new position in Public Storage in the third quarter worth $38,000. Synergy Asset Management LLC acquired a new position in Public Storage in the fourth quarter worth $38,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Public Storage in the third quarter worth $55,000. Institutional investors own 78.79% of the company's stock.

Public Storage Price Performance

Public Storage stock traded up $5.53 during midday trading on Wednesday, hitting $311.58. The company's stock had a trading volume of 680,266 shares, compared to its average volume of 697,068. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock's 50-day moving average price is $298.85 and its 200-day moving average price is $324.95. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The company has a market capitalization of $54.66 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74.

Public Storage Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Truist Financial boosted their price target 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. Scotiabank reduced their price target on shares of Public Storage from $338.00 to $333.00 and set a "sector perform" rating for the company in a report on Wednesday. Barclays reduced their price target on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Wells Fargo & Company reduced their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and boosted their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. 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, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $340.23.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business's 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 sale, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.00% 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.