Public Storage (NYSE:PSA) Shares Acquired Rep. Virginia Foxx

Representative Virginia Foxx (R-North Carolina) recently bought shares of Public Storage (NYSE:PSA). In a filing disclosed on January 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in Public Storage stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

• Sold $50,001 – $100,000 in shares of Via Renewables (NASDAQ:VIASP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of American Electric Power (NASDAQ:AEP) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of FLEX LNG (NYSE:FLNG) on 12/6/2024.
• Sold $50,001 – $100,000 in shares of Pembina Pipeline (NYSE:PBA) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Bristol-Myers Squibb (NYSE:BMY) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Ardmore Shipping (NYSE:ASC) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Amgen (NASDAQ:AMGN) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 12/6/2024.

Public Storage Price Performance

Shares of PSA stock traded down $2.90 during midday trading on Thursday, reaching $295.30. 584,866 shares of the company were exchanged, compared to its average volume of 633,713. The company’s 50 day moving average price is $322.46 and its two-hundred day moving average price is $325.38. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $51.71 billion, a P/E ratio of 30.66, a PEG ratio of 5.29 and a beta of 0.74. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99.

Public Storage Announces Dividend

The firm 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. The ex-dividend date was Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.06%. Public Storage’s dividend payout ratio is presently 124.61%.

Insider Activity

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s 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 in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Public Storage

Several institutional investors have recently added to or reduced their stakes in PSA. International Assets Investment Management LLC bought a new stake in Public Storage during the 4th quarter worth about $7,849,000. Doliver Advisors LP increased its holdings in shares of Public Storage by 2.6% in the fourth quarter. Doliver Advisors LP now owns 1,446 shares of the real estate investment trust’s stock valued at $433,000 after purchasing an additional 36 shares in the last quarter. Nordea Investment Management AB raised its position in Public Storage by 1.6% in the 4th quarter. Nordea Investment Management AB now owns 12,738 shares of the real estate investment trust’s stock worth $3,792,000 after purchasing an additional 200 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Public Storage by 301.7% during the 4th quarter. Versant Capital Management Inc now owns 237 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 178 shares in the last quarter. Finally, Global Wealth Strategies & Associates acquired a new stake in shares of Public Storage in the 4th quarter valued at $95,000. 78.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PSA shares. Truist Financial raised their price objective 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. Jefferies Financial Group boosted their target price on Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Morgan Stanley raised their price objective on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Evercore ISI dropped their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Finally, Barclays cut their price objective on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and a consensus target price of $342.07.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

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.