Jamison Private Wealth Management Inc. Has $578,000 Stock Holdings in Public Storage (NYSE:PSA)

Jamison Private Wealth Management Inc. boosted its position in Public Storage (NYSE:PSA) by 85.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,930 shares of the real estate investment trust’s stock after acquiring an additional 892 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in Public Storage were worth $578,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in shares of Public Storage by 122.5% during the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 147 shares during the last quarter. MBB Public Markets I LLC acquired a new position in Public Storage in the 2nd quarter worth about $3,296,000. NewEdge Advisors LLC increased its holdings in Public Storage by 12.7% in the 2nd quarter. NewEdge Advisors LLC now owns 136,923 shares of the real estate investment trust’s stock worth $39,386,000 after purchasing an additional 15,459 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Public Storage by 61.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 18,584 shares of the real estate investment trust’s stock valued at $5,346,000 after purchasing an additional 7,090 shares during the last quarter. Finally, Wellington Wealth Strategies LLC. acquired a new stake in shares of Public Storage during the second quarter valued at about $411,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PSA. Evercore ISI dropped their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Wells Fargo & Company dropped their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Royal Bank of Canada reduced their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Barclays lowered their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Morgan Stanley upped their price target on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Public Storage presently has a consensus rating of “Moderate Buy” and an average target price of $344.54.

Insider Activity

In related 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 transaction, the insider now directly owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.00% of the company’s stock.

Public Storage Stock Performance

Shares of PSA stock opened at $292.04 on Friday. The firm has a 50 day moving average of $312.93 and a 200-day moving average of $325.54. The company has a market cap of $51.14 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 4.68 and a beta of 0.74. 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 has a 52 week low of $256.31 and a 52 week high of $369.99.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.11%. The ex-dividend date was Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

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.