IVC Wealth Advisors LLC Purchases 98 Shares of Public Storage (NYSE:PSA)

IVC Wealth Advisors LLC raised its position in shares of Public Storage (NYSE:PSA) by 6.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,559 shares of the real estate investment trust’s stock after purchasing an additional 98 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Public Storage were worth $467,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of Public Storage during the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage during the 3rd quarter valued at $38,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Public Storage in the 3rd quarter worth $50,000. Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage in the third quarter worth $55,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Public Storage by 301.7% during the fourth quarter. Versant Capital Management Inc now owns 237 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 178 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PSA shares. Evercore ISI reduced their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Royal Bank of Canada decreased their price objective 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 target price on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Wells Fargo & Company cut their price objective on 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 assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $344.54.

Public Storage Stock Performance

Shares of NYSE PSA opened at $291.23 on Friday. The stock has a market cap of $51.00 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 4.68 and a beta of 0.74. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The firm has a fifty day moving average price of $314.60 and a 200-day moving average price of $325.77. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders 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 dividend on an annualized basis and a yield of 4.12%. Public Storage’s dividend payout ratio is presently 124.61%.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 450 shares of the business’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 value of $143,095.50. Following the transaction, the insider now directly owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.00% of the company’s stock.

Public Storage Company 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.