Advisory Alpha LLC Purchases 180 Shares of Public Storage (NYSE:PSA)

Advisory Alpha LLC boosted its position in shares of Public Storage (NYSE:PSA) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,679 shares of the real estate investment trust’s stock after acquiring an additional 180 shares during the period. Advisory Alpha LLC’s holdings in Public Storage were worth $503,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. AE Wealth Management LLC boosted its stake in Public Storage by 28.2% during the 2nd quarter. AE Wealth Management LLC now owns 3,065 shares of the real estate investment trust’s stock valued at $882,000 after purchasing an additional 675 shares during the period. Profund Advisors LLC boosted its position in shares of Public Storage by 2.7% in the second quarter. Profund Advisors LLC now owns 2,517 shares of the real estate investment trust’s stock valued at $724,000 after acquiring an additional 66 shares during the period. ProShare Advisors LLC grew its stake in shares of Public Storage by 5.6% in the second quarter. ProShare Advisors LLC now owns 33,091 shares of the real estate investment trust’s stock worth $9,519,000 after acquiring an additional 1,762 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Public Storage by 122.5% during the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 147 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in Public Storage by 17.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 21,963 shares of the real estate investment trust’s stock valued at $6,318,000 after purchasing an additional 3,253 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated Friday, December 13th. The stock was 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 of the company’s stock, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 11.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Truist Financial raised their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada lowered their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Morgan Stanley raised their price objective on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and boosted their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Wells Fargo & Company reduced their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Public Storage Trading Down 2.1 %

Shares of Public Storage stock opened at $290.87 on Thursday. The stock has a market capitalization of $50.93 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a 50-day simple moving average of $315.48 and a 200 day simple moving average of $326.01.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date was Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

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.