Regatta Capital Group LLC Buys 67 Shares of Public Storage (NYSE:PSA)

Regatta Capital Group LLC lifted its stake in Public Storage (NYSE:PSA) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,492 shares of the real estate investment trust’s stock after buying an additional 67 shares during the quarter. Regatta Capital Group LLC’s holdings in Public Storage were worth $1,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in Public Storage during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Public Storage in the third quarter worth $38,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Public Storage during the 3rd quarter valued at $50,000. Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage during the 3rd quarter valued at $55,000. Finally, Toth Financial Advisory Corp boosted its holdings in Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 66 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PSA has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Royal Bank of Canada dropped their target price on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Truist Financial increased their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Finally, Barclays cut their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and a consensus target price of $344.54.

Public Storage Stock Performance

PSA stock opened at $292.04 on Friday. The firm has a market cap of $51.14 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 4.68 and a beta of 0.74. Public Storage has a twelve month low of $256.31 and a twelve 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 business’s fifty day simple moving average is $312.93 and its two-hundred day simple moving average is $325.54.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.11%. Public Storage’s payout ratio is 124.61%.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction on Friday, December 13th. The stock was 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 directly owns 2,364 shares of the company’s stock, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.00% of the stock is owned by corporate insiders.

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.