Foundations Investment Advisors LLC Cuts Stake in Public Storage (NYSE:PSA)

Foundations Investment Advisors LLC trimmed its stake in Public Storage (NYSE:PSA) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,989 shares of the real estate investment trust’s stock after selling 106 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Public Storage were worth $5,087,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSA. Prospera Private Wealth LLC purchased a new stake in shares of Public Storage during the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new position in Public Storage in the third quarter valued at $38,000. Compagnie Lombard Odier SCmA purchased a new stake in Public Storage during the third quarter valued at about $50,000. Harbor Capital Advisors Inc. acquired a new stake in Public Storage during the third quarter worth about $55,000. Finally, Toth Financial Advisory Corp raised its holdings in shares of 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 purchasing an additional 66 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of PSA opened at $297.80 on Tuesday. Public Storage has a 52-week low of $256.31 and a 52-week 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 firm has a market cap of $52.15 billion, a price-to-earnings ratio of 30.92, a PEG ratio of 4.68 and a beta of 0.74. The business’s 50 day moving average is $312.93 and its two-hundred day moving average is $326.07.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid 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 4.03%. Public Storage’s dividend payout ratio (DPR) is 124.61%.

Analyst Ratings Changes

A number of analysts recently issued reports on PSA shares. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and increased their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Truist Financial raised their target price on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Barclays decreased their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Evercore ISI cut their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Finally, Morgan Stanley upped their target price 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. Seven investment 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 2,364 shares of the company’s stock, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.00% of the stock is owned by company insiders.

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.