225 Shares in Public Storage (NYSE:PSA) Purchased by Parkworth Wealth Management Inc.

Parkworth Wealth Management Inc. acquired a new position in Public Storage (NYSE:PSA) during the 4th quarter, Holdings Channel reports. The fund acquired 225 shares of the real estate investment trust’s stock, valued at approximately $67,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quent Capital LLC increased its stake in shares of Public Storage by 135.1% during the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Public Storage in the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new position in Public Storage in the 3rd quarter worth approximately $38,000. Synergy Asset Management LLC purchased a new position in Public Storage in the 4th quarter worth approximately $38,000. Finally, Toth Financial Advisory Corp boosted its stake in shares of Public Storage by 48.2% during the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 66 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Public Storage Price Performance

Shares of NYSE PSA opened at $308.21 on Wednesday. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The firm’s 50-day simple moving average is $299.84 and its 200 day simple moving average is $324.37. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market cap of $54.06 billion, a P/E ratio of 32.00, a P/E/G ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.89%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were 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 in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PSA has been the subject of several research analyst reports. Royal Bank of Canada reduced their target price 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. Truist Financial raised their target price 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 upgraded Public Storage from a “sell” rating to a “hold” rating and raised their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Wells Fargo & Company cut their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. Finally, Scotiabank cut their target price on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Public Storage 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.