Nathaniel A. Vitan Sells 450 Shares of Public Storage (NYSE:PSA) Stock

Public Storage (NYSE:PSA - Get Free Report) insider Nathaniel A. Vitan sold 450 shares of the business's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the sale, the insider now directly owns 2,364 shares of the company's stock, valued at $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Public Storage Stock Down 0.8 %

PSA stock traded down $2.46 during midday trading on Monday, hitting $315.16. The stock had a trading volume of 753,882 shares, compared to its average volume of 712,905. The business has a 50-day moving average of $337.34 and a two-hundred day moving average of $323.21. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $55.19 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 5.29 and a beta of 0.71. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage's dividend payout ratio is presently 124.61%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Public Storage by 732.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust's stock valued at $561,763,000 after purchasing an additional 1,358,493 shares in the last quarter. Adelante Capital Management LLC increased its position in Public Storage by 389.9% during the 3rd quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust's stock valued at $532,465,000 after buying an additional 1,164,630 shares in the last quarter. FMR LLC increased its position in Public Storage by 20.9% during the 3rd quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust's stock valued at $1,828,763,000 after buying an additional 869,066 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Public Storage by 57.3% during the third quarter. Daiwa Securities Group Inc. now owns 1,113,799 shares of the real estate investment trust's stock valued at $405,278,000 after buying an additional 405,847 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Public Storage by 116.7% in the second quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust's stock worth $111,077,000 after acquiring an additional 208,546 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wells Fargo & Company decreased their price target on Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Jefferies Financial Group increased their price target on shares of Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Royal Bank of Canada cut 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 report on Friday, November 8th. Citigroup increased their target price on shares of Public Storage from $303.00 to $378.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Finally, Evercore ISI reduced their price target on Public Storage from $343.00 to $338.00 and set an "in-line" rating on the stock in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $342.07.

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.