Dorsey & Whitney Trust CO LLC Reduces Holdings in Public Storage (NYSE:PSA)

Dorsey & Whitney Trust CO LLC cut its stake in shares of Public Storage (NYSE:PSA) by 17.6% in the 4th quarter, HoldingsChannel reports. The fund owned 1,015 shares of the real estate investment trust’s stock after selling 217 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Public Storage were worth $304,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC lifted its holdings in Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares during the period. Prospera Private Wealth LLC purchased a new stake in Public Storage in the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage in the 3rd quarter worth approximately $38,000. Synergy Asset Management LLC purchased a new stake in Public Storage in the 4th quarter worth approximately $38,000. Finally, Toth Financial Advisory Corp lifted its holdings in Public Storage by 48.2% in the 4th 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. Hedge funds and other institutional investors own 78.79% of the company’s stock.

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.

Public Storage Stock Down 0.1 %

PSA stock opened at $313.59 on Tuesday. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market cap of $55.01 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The business has a 50 day moving average of $299.67 and a 200 day moving average of $324.60.

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 3.83%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s dividend payout ratio is currently 112.89%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PSA. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Wells Fargo & Company decreased their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Truist Financial increased their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada decreased their target price on 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. Finally, Scotiabank decreased their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.23.

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.