Public Storage (NYSE:PSA) Shares Acquired Rep. Virginia Foxx

Representative Virginia Foxx (R-North Carolina) recently bought shares of Public Storage NYSE: PSA. In a filing disclosed on January 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in Public Storage stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

• Sold $50,001 - $100,000 in shares of Via Renewables NASDAQ: VIASP on 12/6/2024.
• Purchased $1,001 - $15,000 in shares of American Electric Power NASDAQ: AEP on 12/6/2024.
• Sold $15,001 - $50,000 in shares of FLEX LNG NYSE: FLNG on 12/6/2024.
• Sold $50,001 - $100,000 in shares of Pembina Pipeline NYSE: PBA on 12/6/2024.
• Purchased $1,001 - $15,000 in shares of Bristol-Myers Squibb NYSE: BMY on 12/6/2024.
• Sold $15,001 - $50,000 in shares of Ardmore Shipping NYSE: ASC on 12/6/2024.
• Purchased $1,001 - $15,000 in shares of Amgen NASDAQ: AMGN on 12/6/2024.
• Purchased $1,001 - $15,000 in shares of AbbVie NYSE: ABBV on 12/6/2024.
• Sold $15,001 - $50,000 in shares of Alliance Resource Partners NASDAQ: ARLP on 12/6/2024.
• Purchased $1,001 - $15,000 in shares of Duke Energy NYSE: DUK on 12/6/2024.

Public Storage Stock Performance

PSA traded down $2.90 during trading on Thursday, reaching $295.30. 584,866 shares of the company's stock were exchanged, compared to its average volume of 633,713. 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 has a 1 year low of $256.31 and a 1 year high of $369.99. The company's fifty day simple moving average is $321.79 and its 200-day simple moving average is $325.17. The stock has a market capitalization of $51.71 billion, a P/E ratio of 30.66, a price-to-earnings-growth ratio of 5.29 and a beta of 0.74.

Public Storage Announces Dividend

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

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Public Storage from $306.00 to $340.00 and gave the company a "hold" rating in a research report on Thursday, December 5th. Morgan Stanley upped their target price on Public Storage from $293.00 to $315.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reduced their price target on Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. Jefferies Financial Group upped their price objective on Public Storage from $360.00 to $422.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. Finally, Evercore ISI cut their target price on shares of Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Public Storage currently has a consensus rating of "Moderate Buy" and a consensus target price of $342.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 acquiring an additional 1,358,493 shares during the last quarter. Adelante Capital Management LLC increased its position in shares of Public Storage by 389.9% during the third quarter. Adelante Capital Management LLC now owns 1,463,338 shares of the real estate investment trust's stock worth $532,465,000 after purchasing an additional 1,164,630 shares in the last quarter. FMR LLC raised its stake in Public Storage by 20.9% in 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 purchasing an additional 869,066 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Public Storage by 57.3% in the 3rd 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 purchasing an additional 405,847 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Public Storage by 116.7% in the 2nd quarter. AQR Capital Management LLC now owns 387,217 shares of the real estate investment trust's stock valued at $111,077,000 after purchasing an additional 208,546 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina's 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina's 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

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.