Public Storage (NYSE:PSA) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lowered its holdings in Public Storage (NYSE:PSA) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,430 shares of the real estate investment trust’s stock after selling 238 shares during the period. Securian Asset Management Inc.’s holdings in Public Storage were worth $2,524,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PSA. Quent Capital LLC increased its position in shares of Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 50 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage in the third quarter worth $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage in the third quarter worth $38,000. Synergy Asset Management LLC acquired a new stake in shares of Public Storage in the fourth quarter worth $38,000. Finally, Toth Financial Advisory Corp increased its position in shares of Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Activity

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated 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 SEC, which is available at this hyperlink. Company insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PSA. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and raised their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial raised their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Barclays reaffirmed an “overweight” rating and set a $354.00 price target (down from $361.00) on shares of Public Storage in a report on Wednesday. Royal Bank of Canada lowered their price target on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Finally, Wells Fargo & Company lowered their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $339.69.

Public Storage Trading Down 1.6 %

NYSE PSA opened at $303.39 on Thursday. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. 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 company has a market capitalization of $53.22 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The company’s fifty day moving average price is $299.92 and its two-hundred day moving average price is $324.23.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.96%. Public Storage’s dividend payout ratio (DPR) is 112.89%.

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.