WD Rutherford LLC Has $1.37 Million Stock Holdings in Public Storage (NYSE:PSA)

WD Rutherford LLC grew its position in Public Storage (NYSE:PSA) by 202.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,717 shares of the real estate investment trust’s stock after purchasing an additional 3,156 shares during the period. WD Rutherford LLC’s holdings in Public Storage were worth $1,368,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of Public Storage by 107.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 44 shares in the last quarter. Core Wealth Advisors Inc. bought a new stake in shares of Public Storage during the fourth quarter worth $30,000. EdgeRock Capital LLC bought a new stake in shares of Public Storage during the fourth quarter worth $32,000. Private Ocean LLC increased its position in shares of Public Storage by 5,450.0% during the fourth quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 109 shares in the last quarter. Finally, Centerpoint Advisors LLC bought a new stake in shares of Public Storage during the fourth quarter worth $35,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Stock Performance

PSA stock traded up $1.10 during trading hours on Friday, reaching $287.65. The stock had a trading volume of 1,790,167 shares, compared to its average volume of 741,451. The stock has a market capitalization of $50.55 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 4.00 and a beta of 0.63. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a 50-day simple moving average of $276.19 and a 200 day simple moving average of $282.79. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $312.25.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Wednesday, June 12th. Public Storage’s dividend payout ratio is currently 108.99%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Public Storage

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

Public Storage Company Profile

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.