Advisory Alpha LLC Has $503,000 Stock Position in Public Storage (NYSE:PSA)

Advisory Alpha LLC increased its position in shares of Public Storage (NYSE:PSA) by 12.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,679 shares of the real estate investment trust’s stock after purchasing an additional 180 shares during the quarter. Advisory Alpha LLC’s holdings in Public Storage were worth $503,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PSA. XML Financial LLC boosted its stake in shares of Public Storage by 2.9% in the 4th quarter. XML Financial LLC now owns 8,697 shares of the real estate investment trust’s stock valued at $2,604,000 after purchasing an additional 248 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in Public Storage by 8.4% in the fourth quarter. Atomi Financial Group Inc. now owns 890 shares of the real estate investment trust’s stock valued at $267,000 after acquiring an additional 69 shares during the last quarter. Perpetual Ltd grew its holdings in Public Storage by 4.2% during the 4th quarter. Perpetual Ltd now owns 99,473 shares of the real estate investment trust’s stock worth $29,786,000 after acquiring an additional 4,015 shares during the period. Chesapeake Wealth Management raised its position in shares of Public Storage by 9.2% during the 4th quarter. Chesapeake Wealth Management now owns 1,680 shares of the real estate investment trust’s stock valued at $503,000 after acquiring an additional 142 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in shares of Public Storage by 6.9% in the 4th quarter. Ballentine Partners LLC now owns 841 shares of the real estate investment trust’s stock valued at $252,000 after purchasing an additional 54 shares during the period. Institutional investors own 78.79% of the company’s stock.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the firm’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 transaction of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares of the company’s stock, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada lowered their price target on 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 lifted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Barclays lowered 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. Finally, Evercore ISI reduced their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Seven research 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 company’s stock. Based on data from MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average price target of $344.54.

Public Storage Price Performance

Shares of NYSE PSA opened at $290.87 on Thursday. The company has a fifty day moving average price of $315.48 and a 200 day moving average price of $326.01. The firm has a market cap of $50.93 billion, a PE ratio of 30.20, a PEG ratio of 4.78 and a beta of 0.74. 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.

Public Storage Dividend Announcement

The company also recently disclosed 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 was Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.13%. Public Storage’s payout ratio is presently 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.