Public Storage (NYSE:PSA) Shares Sold by CWA Asset Management Group LLC

CWA Asset Management Group LLC reduced its position in shares of Public Storage (NYSE:PSA - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,823 shares of the real estate investment trust's stock after selling 2,013 shares during the period. Public Storage accounts for about 0.8% of CWA Asset Management Group LLC's holdings, making the stock its 29th biggest holding. CWA Asset Management Group LLC's holdings in Public Storage were worth $14,919,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage during the third quarter worth $38,000. Compagnie Lombard Odier SCmA purchased a new stake in Public Storage in the third quarter valued at $50,000. Harbor Capital Advisors Inc. purchased a new stake in Public Storage in the third quarter valued at $55,000. Finally, Deseret Mutual Benefit Administrators lifted its stake in shares of Public Storage by 39.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 206 shares of the real estate investment trust's stock valued at $75,000 after purchasing an additional 58 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Down 1.6 %

NYSE:PSA traded down $4.80 during trading hours on Monday, hitting $295.65. The company's stock had a trading volume of 597,675 shares, compared to its average volume of 598,092. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $51.77 billion, a P/E ratio of 30.70, a price-to-earnings-growth ratio of 5.29 and a beta of 0.74. The stock has a fifty day moving average of $323.92 and a 200-day moving average of $325.54.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage's payout ratio is 124.61%.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the company's stock in a transaction 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 transaction, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 11.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on PSA. Evercore ISI reduced 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. Morgan Stanley upped their price objective on shares of Public Storage from $293.00 to $315.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 2nd. Barclays dropped their target price on shares of Public Storage from $381.00 to $380.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. 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. Finally, Jefferies Financial Group lifted their price objective on Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage has an average 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.