Capital Investment Advisors LLC Raises Stock Holdings in Public Storage (NYSE:PSA)

Capital Investment Advisors LLC raised its stake in shares of Public Storage (NYSE:PSA) by 25.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,608 shares of the real estate investment trust’s stock after purchasing an additional 5,793 shares during the quarter. Capital Investment Advisors LLC’s holdings in Public Storage were worth $8,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley increased their target price 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. Royal Bank of Canada decreased their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Truist Financial upped their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Jefferies Financial Group lifted their target price on shares of Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Company cut their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $344.54.

Insider Transactions at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.00% of the company’s stock.

Public Storage Price Performance

Shares of NYSE PSA traded down $1.78 during midday trading on Monday, reaching $287.21. The stock had a trading volume of 118,001 shares, compared to its average volume of 592,002. 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 has a 12-month low of $256.31 and a 12-month high of $369.99. The stock has a 50-day moving average of $321.09 and a 200-day moving average of $325.66. The company has a market capitalization of $50.29 billion, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 5.29 and a beta of 0.74.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date was Friday, December 13th. Public Storage’s payout ratio is 124.61%.

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.