Public Storage (NYSE:PSA) Shares Sold by Clarity Financial LLC

Clarity Financial LLC lessened its holdings in Public Storage (NYSE:PSA) by 5.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,502 shares of the real estate investment trust’s stock after selling 132 shares during the period. Clarity Financial LLC’s holdings in Public Storage were worth $726,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Public Storage by 29.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,168,763 shares of the real estate investment trust’s stock worth $835,032,000 after purchasing an additional 729,262 shares during the period. Norges Bank acquired a new stake in Public Storage in the 4th quarter valued at $821,151,000. Charles Schwab Investment Management Inc. grew its stake in Public Storage by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,687,170 shares of the real estate investment trust’s stock valued at $794,161,000 after acquiring an additional 216,331 shares during the period. APG Asset Management US Inc. grew its stake in Public Storage by 4.7% in the 4th quarter. APG Asset Management US Inc. now owns 2,074,617 shares of the real estate investment trust’s stock valued at $632,758,000 after acquiring an additional 93,122 shares during the period. Finally, Morgan Stanley grew its stake in Public Storage by 0.8% in the 3rd quarter. Morgan Stanley now owns 1,680,149 shares of the real estate investment trust’s stock valued at $442,753,000 after acquiring an additional 13,864 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 400 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $274.29, for a total value of $109,716.00. Following the sale, the insider now directly owns 3,214 shares in the company, valued at approximately $881,568.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Public Storage news, insider Nathaniel A. Vitan sold 400 shares of Public Storage stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $274.29, for a total value of $109,716.00. Following the completion of the transaction, the insider now directly owns 3,214 shares of the company’s stock, valued at approximately $881,568.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kristy Pipes bought 2,149 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was purchased at an average cost of $278.96 per share, with a total value of $599,485.04. Following the completion of the transaction, the director now owns 2,149 shares in the company, valued at $599,485.04. The disclosure for this purchase can be found here. Insiders own 11.00% of the company’s stock.

Public Storage Stock Up 0.5 %

NYSE PSA opened at $289.47 on Thursday. Public Storage has a 52 week low of $233.18 and a 52 week high of $312.25. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. The business’s fifty day simple moving average is $274.58 and its 200-day simple moving average is $282.64. The firm has a market cap of $50.87 billion, a PE ratio of 26.18, a P/E/G ratio of 4.05 and a beta of 0.63.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.15%. Public Storage’s dividend payout ratio is presently 108.99%.

Wall Street Analysts Forecast Growth

PSA has been the topic of a number of research analyst reports. BMO Capital Markets lifted their price target on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $280.00 to $310.00 in a research note on Friday, April 5th. Barclays dropped their price target on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a research note on Monday, May 20th. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a report on Thursday, March 28th. Finally, Scotiabank raised their price objective on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $303.00.

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.