Chatham Capital Group Inc. Sells 190 Shares of Public Storage (NYSE:PSA)

Chatham Capital Group Inc. reduced its holdings in Public Storage (NYSE:PSA) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,425 shares of the real estate investment trust’s stock after selling 190 shares during the quarter. Chatham Capital Group Inc.’s holdings in Public Storage were worth $3,122,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. State Street Corp grew its position in shares of Public Storage by 0.5% in the 3rd quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust’s stock worth $3,773,571,000 after buying an additional 55,123 shares during the last quarter. FMR LLC grew its position in shares of 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 worth $1,828,763,000 after buying an additional 869,066 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Public Storage by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust’s stock worth $1,425,941,000 after buying an additional 52,807 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Public Storage by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock worth $1,023,080,000 after buying an additional 54,992 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Public Storage by 732.9% in the 3rd 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 worth $561,763,000 after buying an additional 1,358,493 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSA has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Wells Fargo & Company dropped their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Barclays dropped their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Royal Bank of Canada dropped their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. 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. According to MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and an average price target of $340.23.

Public Storage Stock Down 0.9 %

PSA stock opened at $308.48 on Friday. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The business has a fifty day moving average price of $298.99 and a 200-day moving average price of $324.83. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $54.11 billion, a P/E ratio of 32.03, a P/E/G ratio of 4.91 and a beta of 0.74.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio is currently 112.89%.

Insider Transactions at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the business’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 transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 11.00% of the company’s stock.

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.