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

Dynamic Advisor Solutions LLC boosted its stake in Public Storage (NYSE:PSA) by 97.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,349 shares of the real estate investment trust’s stock after acquiring 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.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC purchased a new position in shares of Public Storage in the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage during the third quarter worth $38,000. Compagnie Lombard Odier SCmA purchased a new position in Public Storage in the 3rd quarter valued at $50,000. Harbor Capital Advisors Inc. acquired a new position in Public Storage in the 3rd quarter valued at $55,000. Finally, Deseret Mutual Benefit Administrators raised its position in Public Storage by 39.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 206 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 58 shares during the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on PSA shares. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and increased their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Barclays decreased their price target 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. Truist Financial increased their price objective on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada decreased their target price on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Finally, Morgan Stanley raised their price objective on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $344.54.

Public Storage Stock Performance

Public Storage stock opened at $292.04 on Friday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The stock has a fifty day moving average of $312.93 and a two-hundred day moving average of $325.54. The company has a market capitalization 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors 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 of this dividend was Friday, December 13th. Public Storage’s payout ratio is 124.61%.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated 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 sale, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.00% of the stock is owned by insiders.

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.