Public Storage (NYSE:PSA) Shares Sold by KBC Group NV

KBC Group NV trimmed its position in Public Storage (NYSE:PSA - Free Report) by 25.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,041 shares of the real estate investment trust's stock after selling 70,666 shares during the quarter. KBC Group NV owned approximately 0.12% of Public Storage worth $61,098,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in Public Storage during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new stake in Public Storage in the third quarter valued at $38,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Public Storage during the third quarter valued at about $50,000. Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage in the 3rd quarter valued at approximately $55,000. Finally, Toth Financial Advisory Corp increased its stake 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 acquiring an additional 66 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Down 0.0 %

PSA traded down $0.03 on Tuesday, reaching $297.29. 726,126 shares of the company traded hands, compared to its average volume of 723,666. 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 company has a market cap of $52.06 billion, a P/E ratio of 30.87, a price-to-earnings-growth ratio of 4.68 and a beta of 0.74. The firm has a fifty day simple moving average of $312.14 and a two-hundred day simple moving average of $326.08. Public Storage has a one year low of $256.31 and a one year high of $369.99.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Friday, December 13th. Public Storage's dividend payout ratio is 124.61%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. Barclays dropped their target price on Public Storage from $380.00 to $361.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. Evercore ISI dropped their price objective on shares of Public Storage from $343.00 to $338.00 and set an "in-line" rating on the stock in a report on Monday, October 14th. Truist Financial boosted their price objective on Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. Finally, Wells Fargo & Company lowered their price target on Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $344.54.

Insider Buying and Selling

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 completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. 11.00% of the stock is owned by insiders.

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.