Rosenberg Matthew Hamilton Increases Stock Position in Public Storage (NYSE:PSA)

Rosenberg Matthew Hamilton lifted its holdings in Public Storage (NYSE:PSA) by 12.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 368 shares of the real estate investment trust’s stock after buying an additional 41 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Public Storage were worth $110,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Forza Wealth Management LLC grew its holdings in Public Storage by 7.6% in the fourth quarter. Forza Wealth Management LLC now owns 750 shares of the real estate investment trust’s stock worth $225,000 after purchasing an additional 53 shares during the period. Capital Investment Advisors LLC boosted its position in shares of Public Storage by 25.4% in the 4th quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock worth $8,566,000 after purchasing an additional 5,793 shares in the last quarter. Czech National Bank grew its stake in shares of Public Storage by 6.5% in the 4th quarter. Czech National Bank now owns 34,170 shares of the real estate investment trust’s stock worth $10,232,000 after buying an additional 2,083 shares during the last quarter. Graypoint LLC increased its position in Public Storage by 7.5% during the 4th quarter. Graypoint LLC now owns 747 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 52 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in Public Storage by 70.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 255 shares of the real estate investment trust’s stock valued at $76,000 after buying an additional 105 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PSA shares. Jefferies Financial Group raised their price target on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company decreased their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and increased their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Royal Bank of Canada decreased their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Truist Financial increased 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. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 450 shares of the business’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 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 11.00% of the company’s stock.

Public Storage Stock Performance

Shares of PSA opened at $290.15 on Wednesday. The firm has a market capitalization of $50.81 billion, a P/E ratio of 30.13, a PEG ratio of 5.29 and a beta of 0.74. 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 has a one year low of $256.31 and a one year high of $369.99. The business has a fifty day moving average of $319.23 and a 200 day moving average of $325.70.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.14%. 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.