Public Storage (NYSE:PSA) Shares Sold by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC decreased its position in Public Storage (NYSE:PSA) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,989 shares of the real estate investment trust’s stock after selling 106 shares during the period. Foundations Investment Advisors LLC’s holdings in Public Storage were worth $5,087,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PSA. Northwestern Mutual Wealth Management Co. lifted its holdings in Public Storage by 61.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 18,584 shares of the real estate investment trust’s stock worth $5,346,000 after purchasing an additional 7,090 shares during the period. Wellington Wealth Strategies LLC. bought a new stake in shares of Public Storage in the 2nd quarter worth $411,000. EP Wealth Advisors LLC lifted its holdings in Public Storage by 20.4% in the 2nd quarter. EP Wealth Advisors LLC now owns 2,747 shares of the real estate investment trust’s stock valued at $790,000 after acquiring an additional 466 shares during the last quarter. Truist Financial Corp boosted its position in shares of Public Storage by 4.6% during the 2nd quarter. Truist Financial Corp now owns 30,772 shares of the real estate investment trust’s stock valued at $8,851,000 after purchasing an additional 1,361 shares in the last quarter. Finally, Advisory Alpha LLC grew its stake in shares of Public Storage by 29.1% in the 2nd quarter. Advisory Alpha LLC now owns 1,291 shares of the real estate investment trust’s stock worth $372,000 after purchasing an additional 291 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

PSA has been the subject of several recent research reports. Barclays cut their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Truist Financial lifted their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Royal Bank of Canada decreased their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Morgan Stanley boosted their price objective on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company decreased their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction that occurred 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 directly owns 2,364 shares of the company’s stock, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.00% of the stock is currently owned by corporate insiders.

Public Storage Price Performance

Shares of NYSE:PSA opened at $297.80 on Tuesday. The business has a fifty day simple moving average of $312.93 and a 200 day simple moving average of $326.07. 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 firm has a market cap of $52.15 billion, a price-to-earnings ratio of 30.92, a P/E/G ratio of 4.68 and a beta of 0.74.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors 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 4.03%. Public Storage’s payout ratio is 124.61%.

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.