UMB Bank n.a. Acquires 1,671 Shares of Public Storage (NYSE:PSA)

UMB Bank n.a. raised its position in shares of Public Storage (NYSE:PSA - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,296 shares of the real estate investment trust's stock after purchasing an additional 1,671 shares during the quarter. UMB Bank n.a.'s holdings in Public Storage were worth $6,077,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PSA. Petredis Investment Advisors LLC raised its stake in Public Storage by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust's stock valued at $2,497,000 after purchasing an additional 30 shares during the last quarter. S.A. Mason LLC increased its holdings in shares of Public Storage by 3.8% in the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust's stock valued at $300,000 after purchasing an additional 30 shares in the last quarter. Haverford Trust Co raised its holdings in Public Storage by 0.7% during the 3rd quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust's stock worth $1,558,000 after purchasing an additional 30 shares during the last quarter. Huntington National Bank grew its stake in shares of Public Storage by 5.4% during the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust's stock worth $235,000 after purchasing an additional 33 shares during the period. Finally, Chesapeake Wealth Management boosted its position in shares of Public Storage by 2.2% during the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust's stock worth $560,000 after purchasing an additional 33 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Down 0.5 %

PSA stock traded down $1.45 on Monday, reaching $296.25. 587,329 shares of the company traded hands, compared to its average volume of 651,906. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a market cap of $51.88 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 4.65 and a beta of 0.74. The firm has a fifty day simple moving average of $316.96 and a 200-day simple moving average of $325.90. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Dividend Announcement

The firm also recently announced 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 4.05%. Public Storage's dividend payout ratio is 124.61%.

Insider Buying and Selling

In other news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the transaction, the insider now directly owns 2,364 shares of the company's stock, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PSA. Royal Bank of Canada lowered 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. Wells Fargo & Company reduced their target price on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Morgan Stanley raised their price target on Public Storage from $293.00 to $315.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 2nd. Truist Financial raised their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research note on Thursday, December 5th. Finally, Evercore ISI lowered their price objective on Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a research note on Monday, October 14th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $344.54.

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.