Public Storage (NYSE:PSA) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its position in shares of Public Storage (NYSE:PSA - Free Report) by 43.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,365 shares of the real estate investment trust's stock after selling 3,367 shares during the quarter. Edgestream Partners L.P.'s holdings in Public Storage were worth $1,307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC lifted its holdings in shares of Public Storage by 135.1% in 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 shares of Public Storage during the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage during the 3rd quarter valued at $38,000. Synergy Asset Management LLC bought a new stake in Public Storage in the fourth quarter worth $38,000. Finally, Toth Financial Advisory Corp boosted its stake in Public Storage by 48.2% during the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock worth $61,000 after buying an additional 66 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction that occurred on Friday, December 13th. The shares were 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 $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.10% of the stock is currently owned by corporate insiders.

Remove Ads

Public Storage Stock Performance

NYSE PSA traded down $4.75 on Wednesday, reaching $303.46. 251,234 shares of the company's stock traded hands, compared to its average volume of 712,818. The stock has a 50 day moving average price of $299.84 and a 200-day moving average price of $324.37. The firm has a market cap of $53.23 billion, a price-to-earnings ratio of 31.51, a P/E/G ratio of 4.91 and a beta of 0.73. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.95%. The ex-dividend date is Thursday, March 13th. Public Storage's dividend payout ratio is currently 112.89%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PSA. Wells Fargo & Company reduced their price objective 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. Deutsche Bank Aktiengesellschaft raised Public Storage from a "sell" rating to a "hold" rating and raised their price target for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Scotiabank reduced their target price on Public Storage from $338.00 to $333.00 and set a "sector perform" rating on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada lowered 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 note on Wednesday, February 26th. Finally, Truist Financial raised their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a research note on Thursday, December 5th. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $339.69.

Public Storage 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.