Yoder Wealth Management Inc. Invests $206,000 in Public Storage (NYSE:PSA)

Yoder Wealth Management Inc. acquired a new position in shares of Public Storage (NYSE:PSA) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 711 shares of the real estate investment trust’s stock, valued at approximately $206,000.

Several other institutional investors also recently modified their holdings of PSA. AdvisorNet Financial Inc lifted its position in Public Storage by 3.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock worth $347,000 after buying an additional 35 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in Public Storage by 2.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock worth $476,000 after buying an additional 38 shares during the last quarter. Signet Financial Management LLC lifted its position in Public Storage by 2.1% in the first quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock worth $555,000 after buying an additional 39 shares during the last quarter. Brookstone Capital Management lifted its position in Public Storage by 3.4% in the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock worth $354,000 after buying an additional 40 shares during the last quarter. Finally, RB Capital Management LLC lifted its position in Public Storage by 1.1% in the third quarter. RB Capital Management LLC now owns 3,978 shares of the real estate investment trust’s stock worth $1,048,000 after buying an additional 43 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Public Storage

In other news, Director Kristy Pipes bought 2,149 shares of Public Storage stock in a transaction on Tuesday, May 14th. The stock was acquired at an average cost of $278.96 per share, for a total transaction of $599,485.04. Following the completion of the acquisition, the director now owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Nathaniel A. Vitan sold 400 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $274.29, for a total transaction of $109,716.00. Following the transaction, the insider now owns 3,214 shares in the company, valued at $881,568.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kristy Pipes acquired 2,149 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were bought at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the acquisition, the director now owns 2,149 shares of the company’s stock, valued at $599,485.04. The disclosure for this purchase can be found here. 11.10% of the stock is currently owned by corporate insiders.

Public Storage Stock Up 0.7 %

Shares of PSA stock traded up $1.95 on Wednesday, hitting $287.34. The stock had a trading volume of 360,209 shares, compared to its average volume of 722,806. 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 has a 50 day moving average price of $277.08 and a 200 day moving average price of $282.77. The company has a market cap of $50.49 billion, a PE ratio of 26.14, a P/E/G ratio of 4.02 and a beta of 0.65. Public Storage has a one year low of $233.18 and a one year high of $312.25.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Wednesday, June 12th were issued a $3.00 dividend. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $12.00 annualized dividend and a dividend yield of 4.18%. Public Storage’s payout ratio is currently 108.99%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PSA. Barclays lowered their price target on Public Storage from $330.00 to $327.00 and set an “overweight” rating for the company in a research report on Monday, May 20th. BMO Capital Markets boosted their target price 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 boosted their target price for the company from $280.00 to $310.00 in a research note on Friday, April 5th. Scotiabank boosted 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 note on Monday, March 18th. Finally, 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 note on Thursday, March 28th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, Public Storage has a consensus rating of “Moderate Buy” and a consensus price target 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.