Nathaniel A. Vitan Sells 450 Shares of Public Storage (NYSE:PSA) Stock

Public Storage (NYSE:PSA) insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Public Storage Stock Up 0.4 %

PSA stock traded up $1.13 during mid-day trading on Monday, hitting $318.75. The stock had a trading volume of 172,920 shares, compared to its average volume of 711,173. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a fifty day moving average of $337.34 and a 200 day moving average of $323.21. The stock has a market capitalization of $55.82 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 5.29 and a beta of 0.71.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.76%. The ex-dividend date is Friday, December 13th. Public Storage’s payout ratio is currently 124.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PSA shares. Wells Fargo & Company reduced their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Evercore ISI reduced their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Scotiabank upped their target price on Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a report on Thursday, August 22nd. Barclays reduced their target price on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, Wolfe Research raised Public Storage to a “strong-buy” rating in a report on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $342.07.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in shares of Public Storage during the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Storage during the 3rd quarter valued at about $38,000. EdgeRock Capital LLC acquired a new position in shares of Public Storage during the 2nd quarter valued at about $39,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Public Storage during the 3rd quarter valued at about $50,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Public Storage during the 3rd quarter valued at about $55,000. 78.79% of the stock is owned by institutional investors and hedge funds.

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.