Public Storage (NYSE:PSA) Shares Bought by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC grew its position in Public Storage (NYSE:PSA) by 97.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,349 shares of the real estate investment trust’s stock after buying an additional 4,122 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Public Storage were worth $2,500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in Public Storage by 122.5% in the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 147 shares during the period. MBB Public Markets I LLC acquired a new stake in shares of Public Storage during the 2nd quarter worth about $3,296,000. NewEdge Advisors LLC raised 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 valued at $39,386,000 after buying an additional 15,459 shares during the period. Northwestern Mutual Wealth Management Co. lifted 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 buying an additional 7,090 shares during the last quarter. Finally, Wellington Wealth Strategies LLC. acquired a new position in Public Storage in the second quarter valued at about $411,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Trading Up 0.2 %

Shares of Public Storage stock opened at $292.04 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a fifty day simple moving average of $312.93 and a 200-day simple moving average of $325.54. The stock has a market cap of $51.14 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 4.68 and a beta of 0.74. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99.

Public Storage Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PSA shares. 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 note on Monday, October 14th. Wells Fargo & Company decreased their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley lifted their price objective on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Barclays decreased their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Seven 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $344.54.

Insiders Place Their Bets

In related 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 transaction of $143,095.50. Following the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 11.00% of the company’s stock.

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.