Public Storage (NYSE:PSA) Shares Bought by Pacific Center for Financial Services

Pacific Center for Financial Services lifted its stake in Public Storage (NYSE:PSAFree Report) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,068 shares of the real estate investment trust’s stock after buying an additional 112 shares during the period. Pacific Center for Financial Services’ holdings in Public Storage were worth $326,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PSA. Truepoint Inc. acquired a new stake in shares of Public Storage during the third quarter worth approximately $241,000. UBS Group AG increased its position in shares of Public Storage by 34.1% in the 3rd quarter. UBS Group AG now owns 132,535 shares of the real estate investment trust’s stock worth $34,926,000 after purchasing an additional 33,720 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Public Storage by 3.1% in the 3rd quarter. Blair William & Co. IL now owns 2,852 shares of the real estate investment trust’s stock valued at $752,000 after purchasing an additional 85 shares in the last quarter. Aviva PLC lifted its position in shares of Public Storage by 74.5% during the third quarter. Aviva PLC now owns 40,153 shares of the real estate investment trust’s stock worth $10,581,000 after purchasing an additional 17,140 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its stake in Public Storage by 43,684.0% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 150,617 shares of the real estate investment trust’s stock worth $39,691,000 after purchasing an additional 150,273 shares in the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PSA shares. BMO Capital Markets lifted their price objective on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. Scotiabank increased their target price on Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research report on Monday, March 18th. Wells Fargo & Company upgraded 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 note on Friday, April 5th. Barclays lowered their price target 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. Finally, Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $303.00.

Check Out Our Latest Stock Analysis on PSA

Public Storage Price Performance

Shares of NYSE PSA traded up $0.83 during mid-day trading on Friday, reaching $283.43. The company had a trading volume of 617,229 shares, compared to its average volume of 711,589. The company has a 50-day moving average price of $272.60 and a two-hundred day moving average price of $281.24. The stock has a market cap of $49.81 billion, a PE ratio of 25.74, a P/E/G ratio of 3.85 and a beta of 0.63. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59. Public Storage has a 1-year low of $233.18 and a 1-year high of $312.25.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.23%. Public Storage’s dividend payout ratio is currently 108.99%.

Insiders Place Their Bets

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

About Public Storage

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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