Vestmark Advisory Solutions Inc. Purchases 314 Shares of Public Storage (NYSE:PSA)

Vestmark Advisory Solutions Inc. increased its stake in shares of Public Storage (NYSE:PSA) by 17.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,126 shares of the real estate investment trust’s stock after purchasing an additional 314 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Public Storage were worth $637,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Public Storage by 5.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,729 shares of the real estate investment trust’s stock worth $16,089,000 after purchasing an additional 2,566 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Public Storage by 3,714.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock worth $666,000 after purchasing an additional 1,783 shares during the last quarter. Capital Investment Advisors LLC raised its stake in Public Storage by 25.4% in the fourth quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock valued at $8,566,000 after buying an additional 5,793 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Public Storage by 114.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock valued at $33,302,000 after buying an additional 48,803 shares during the last quarter. Finally, Swedbank AB raised its stake in Public Storage by 31.9% in the third quarter. Swedbank AB now owns 154,167 shares of the real estate investment trust’s stock valued at $56,097,000 after buying an additional 37,285 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Stock Up 1.8 %

Public Storage stock opened at $313.99 on Friday. The firm has a market cap of $55.08 billion, a price-to-earnings ratio of 32.61, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The business’s 50-day moving average price is $299.31 and its 200 day moving average price is $324.76. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.82%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is 112.89%.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the firm’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 sale, the insider now directly owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PSA has been the subject of a number of research analyst reports. 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. Scotiabank decreased their price target on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research note on Wednesday. Royal Bank of Canada decreased their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company decreased their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, Barclays decreased their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $340.23.

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.