Public Storage (NYSE:PSA) Shares Acquired by Seven Post Investment Office LP

Seven Post Investment Office LP boosted its stake in shares of Public Storage (NYSE:PSA) by 1.0% in the fourth quarter, HoldingsChannel reports. The firm owned 29,079 shares of the real estate investment trust’s stock after purchasing an additional 287 shares during the quarter. Public Storage accounts for about 3.3% of Seven Post Investment Office LP’s holdings, making the stock its 9th largest holding. Seven Post Investment Office LP’s holdings in Public Storage were worth $8,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Prospera Private Wealth LLC bought a new stake in shares of Public Storage during the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage during the third quarter worth approximately $38,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Public Storage during the third quarter worth approximately $50,000. Harbor Capital Advisors Inc. acquired a new position in shares of Public Storage in the third quarter valued at approximately $55,000. Finally, Versant Capital Management Inc increased its stake 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 worth $71,000 after purchasing an additional 178 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSA has been the subject of several recent research reports. Evercore ISI reduced their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Wells Fargo & Company decreased their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Barclays lowered their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and boosted their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Finally, 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. Seven 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. Based on data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and a consensus price target of $344.54.

Insider Activity at Public Storage

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 shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.10% of the stock is currently owned by insiders.

Public Storage Stock Down 0.5 %

NYSE PSA opened at $296.25 on Tuesday. The business has a fifty day moving average price of $316.96 and a two-hundred day moving average price of $325.90. The stock has a market capitalization of $51.88 billion, a PE ratio of 30.76, a PEG ratio of 4.77 and a beta of 0.74. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $3.00 per share. The ex-dividend date was Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.05%. Public Storage’s dividend payout ratio is currently 124.61%.

About Public Storage

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.