Public Storage (NYSE:PSA) Shares Sold by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC cut its holdings in shares of Public Storage (NYSE:PSA) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,158 shares of the real estate investment trust’s stock after selling 74 shares during the period. Impact Partnership Wealth LLC’s holdings in Public Storage were worth $946,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Petredis Investment Advisors LLC lifted its holdings in shares of Public Storage by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock valued at $2,497,000 after buying an additional 30 shares during the last quarter. S.A. Mason LLC raised its holdings in Public Storage by 3.8% in the 3rd quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 30 shares during the period. Haverford Trust Co lifted its position in Public Storage by 0.7% during the 3rd quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock worth $1,558,000 after acquiring an additional 30 shares during the last quarter. Huntington National Bank boosted its holdings in Public Storage by 5.4% during the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 33 shares during the period. Finally, Chesapeake Wealth Management grew its position in shares of Public Storage by 2.2% in the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock valued at $560,000 after purchasing an additional 33 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PSA has been the subject of several recent analyst reports. Royal Bank of Canada decreased their target price on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Evercore ISI decreased 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. 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. Morgan Stanley increased their target price on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial boosted their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $344.54.

Public Storage Stock Up 0.2 %

NYSE PSA opened at $291.23 on Friday. The company has a market cap of $51.00 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 4.68 and a beta of 0.74. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. 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 50 day moving average of $314.60 and a 200-day moving average of $325.77.

Public Storage Announces Dividend

The business also recently announced 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. 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 4.12%. Public Storage’s payout ratio is 124.61%.

Insider Activity at Public Storage

In other Public Storage 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 value of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.00% of the stock is owned by insiders.

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.