Sanctuary Advisors LLC Acquires 4,016 Shares of Public Storage (NYSE:PSA)

Sanctuary Advisors LLC boosted its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 47.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,504 shares of the real estate investment trust's stock after purchasing an additional 4,016 shares during the quarter. Sanctuary Advisors LLC's holdings in Public Storage were worth $4,221,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Prospera Private Wealth LLC acquired a new position in shares of Public Storage during the third quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new position in Public Storage during the third quarter valued at about $38,000. EdgeRock Capital LLC acquired a new position in Public Storage in the 2nd quarter valued at approximately $39,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Public Storage in the 3rd quarter worth approximately $50,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Public Storage during the 3rd quarter worth approximately $55,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Public Storage Trading Down 0.5 %

PSA traded down $1.70 during mid-day trading on Tuesday, reaching $313.50. The stock had a trading volume of 1,234,622 shares, compared to its average volume of 715,052. The stock has a market capitalization of $54.90 billion, a P/E ratio of 32.55, a P/E/G ratio of 5.29 and a beta of 0.71. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm's fifty day simple moving average is $336.02 and its two-hundred day simple moving average is $323.82.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage's dividend payout ratio (DPR) is presently 124.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PSA. Wolfe Research raised Public Storage to a "strong-buy" rating in a research report on Wednesday, September 4th. Citigroup boosted their target price on shares of Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Truist Financial upped their target price on shares of Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a report on Thursday, December 5th. Morgan Stanley lifted their price target on shares of Public Storage from $293.00 to $315.00 and gave the company an "equal weight" rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Public Storage has a consensus rating of "Moderate Buy" and an average price target of $342.07.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.00% of the stock is owned by corporate insiders.

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.