Rise Advisors LLC Has $349,000 Stake in Public Storage (NYSE:PSA)

Rise Advisors LLC reduced its holdings in Public Storage (NYSE:PSA) by 8.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,165 shares of the real estate investment trust’s stock after selling 110 shares during the quarter. Rise Advisors LLC’s holdings in Public Storage were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSA. Petredis Investment Advisors LLC lifted its stake in shares of Public Storage by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock valued at $2,497,000 after purchasing an additional 30 shares during the period. S.A. Mason LLC lifted its stake in Public Storage by 3.8% in the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock valued at $300,000 after buying an additional 30 shares during the period. Haverford Trust Co boosted its holdings in Public Storage by 0.7% during the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock worth $1,558,000 after buying an additional 30 shares during the last quarter. Huntington National Bank grew its position in shares of Public Storage by 5.4% during the 3rd quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 33 shares during the period. Finally, Chesapeake Wealth Management grew its position in shares of Public Storage by 2.2% during the 3rd quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock worth $560,000 after buying an additional 33 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Up 0.8 %

PSA stock traded up $2.26 during midday trading on Tuesday, hitting $298.09. The company’s stock had a trading volume of 291,942 shares, compared to its average volume of 519,767. The company’s fifty day moving average price is $323.92 and its 200 day moving average price is $325.54. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The stock has a market capitalization of $52.20 billion, a P/E ratio of 30.95, a PEG ratio of 5.29 and a beta of 0.74.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 4.03%. Public Storage’s payout ratio is presently 124.61%.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction that occurred on 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 SEC, which is available at this link. Insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

PSA has been the subject of a number of analyst reports. Truist Financial boosted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. 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 report on Friday, November 8th. 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 note on Wednesday, October 2nd. Barclays decreased their target price on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company dropped their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $342.07.

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.