Private Advisor Group LLC Reduces Holdings in Public Storage (NYSE:PSA)

Private Advisor Group LLC cut its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 25.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,342 shares of the real estate investment trust's stock after selling 1,507 shares during the period. Private Advisor Group LLC's holdings in Public Storage were worth $1,300,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Quent Capital LLC boosted its holdings in shares of Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Public Storage during the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage in the third quarter worth approximately $38,000. Synergy Asset Management LLC bought a new stake in Public Storage in the 4th quarter worth approximately $38,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Public Storage during the 3rd quarter valued at $55,000. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PSA. Truist Financial lifted their price objective on Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. Barclays lowered their price objective on shares of Public Storage from $380.00 to $361.00 and set an "overweight" rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada cut their target price on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company decreased their price target on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a research 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 objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Public Storage presently has an average rating of "Moderate Buy" and an average target price of $340.69.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 2,364 shares of the company's stock, valued at approximately $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.00% of the company's stock.

Public Storage Price Performance

PSA traded up $7.24 during trading on Monday, hitting $310.86. 502,433 shares of the company traded hands, compared to its average volume of 674,631. 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 company has a market cap of $54.53 billion, a PE ratio of 32.28, a P/E/G ratio of 4.91 and a beta of 0.74. The stock's 50-day simple moving average is $298.29 and its two-hundred day simple moving average is $325.18. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.86%. Public Storage's payout ratio is 112.89%.

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.