Householder Group Estate & Retirement Specialist LLC Has $90,000 Stake in Public Storage (NYSE:PSA)

Householder Group Estate & Retirement Specialist LLC trimmed its stake in shares of Public Storage (NYSE:PSA) by 36.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 302 shares of the real estate investment trust’s stock after selling 176 shares during the period. Householder Group Estate & Retirement Specialist LLC’s holdings in Public Storage were worth $90,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. First National Bank of Mount Dora Trust Investment Services lifted its position in shares of Public Storage by 1.3% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 12,286 shares of the real estate investment trust’s stock worth $3,679,000 after purchasing an additional 153 shares in the last quarter. Avanza Fonder AB acquired a new position in Public Storage in the fourth quarter valued at approximately $3,815,000. Procyon Advisors LLC lifted its holdings in Public Storage by 1.5% in the fourth quarter. Procyon Advisors LLC now owns 8,359 shares of the real estate investment trust’s stock valued at $2,503,000 after buying an additional 120 shares during the period. Tompkins Financial Corp lifted its holdings in Public Storage by 1.7% in the fourth quarter. Tompkins Financial Corp now owns 24,943 shares of the real estate investment trust’s stock valued at $7,469,000 after buying an additional 410 shares during the period. Finally, Fermata Advisors LLC lifted its holdings in Public Storage by 4.8% in the fourth quarter. Fermata Advisors LLC now owns 925 shares of the real estate investment trust’s stock valued at $277,000 after buying an additional 42 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Stock Down 0.5 %

Shares of PSA stock opened at $296.25 on Friday. The firm has a fifty day moving average of $316.96 and a 200-day moving average of $325.35. 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 12-month low of $256.31 and a 12-month high of $369.99. The company has a market capitalization of $51.88 billion, a price-to-earnings ratio of 30.76, a P/E/G ratio of 4.65 and a beta of 0.74.

Public Storage Announces Dividend

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

Insider Transactions at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction 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 owns 2,364 shares of the company’s stock, valued at $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on PSA shares. Barclays cut their price objective on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Evercore ISI cut their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Morgan Stanley increased their price objective on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company cut their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and upped their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average target price of $344.54.

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.