Sentry Investment Management LLC Has $176,000 Stake in Public Storage (NYSE:PSA)

Sentry Investment Management LLC lessened its position in Public Storage (NYSE:PSA) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 589 shares of the real estate investment trust’s stock after selling 96 shares during the period. Sentry Investment Management LLC’s holdings in Public Storage were worth $176,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PSA. Quent Capital LLC grew its holdings in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 50 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in Public Storage during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new stake in Public Storage during the 3rd quarter worth approximately $38,000. Synergy Asset Management LLC acquired a new position in Public Storage in the 4th quarter valued at approximately $38,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Public Storage during the third quarter valued at $55,000. 78.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the 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 transaction, the insider now owns 2,364 shares of the company’s stock, valued at $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 11.00% of the company’s stock.

Public Storage Stock Performance

Shares of PSA stock opened at $308.39 on Wednesday. The firm has a 50 day moving average of $297.76 and a 200-day moving average of $325.45. The company has a market cap of $54.00 billion, a price-to-earnings ratio of 32.02, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s payout ratio is 124.61%.

Analyst Ratings Changes

Several analysts recently weighed in on PSA shares. Royal Bank of Canada reduced their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Wells Fargo & Company reduced their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Truist Financial increased 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. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, Barclays decreased 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 report on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $341.85.

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.