Public Storage (NYSE:PSA) Shares Bought by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC lifted its stake in shares of Public Storage (NYSE:PSA) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,221 shares of the real estate investment trust’s stock after purchasing an additional 40 shares during the period. Premier Path Wealth Partners LLC’s holdings in Public Storage were worth $366,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PSA. Prospera Private Wealth LLC acquired a new position in Public Storage during the third quarter worth $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Public Storage during the 3rd quarter worth $38,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Public Storage during the 3rd quarter valued at about $50,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Public Storage in the third quarter valued at about $55,000. Finally, Deseret Mutual Benefit Administrators increased its position in Public Storage by 39.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 206 shares of the real estate investment trust’s stock worth $75,000 after purchasing an additional 58 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Trading Down 0.5 %

Shares of PSA stock opened at $296.25 on Friday. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The company has a 50 day moving average price of $316.96 and a 200 day moving average price of $325.35. The stock has a market capitalization of $51.88 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 4.65 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $3.00 dividend. The ex-dividend date was Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.05%. Public Storage’s dividend payout ratio (DPR) is 124.61%.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the sale, the insider now 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 document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PSA shares. Wells Fargo & Company dropped their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and raised their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial upped their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Morgan Stanley raised their price objective on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI decreased their target price on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $344.54.

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.