164 Shares in Public Storage (NYSE:PSA) Purchased by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC acquired a new position in Public Storage (NYSE:PSA) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 164 shares of the real estate investment trust’s stock, valued at approximately $48,000.

A number of other large investors have also modified their holdings of PSA. TIAA Trust National Association acquired a new position in Public Storage during the 4th quarter valued at about $230,000. Advisory Alpha LLC bought a new position in shares of Public Storage during the 4th quarter valued at about $713,000. Avitas Wealth Management LLC boosted its holdings in shares of Public Storage by 57.8% in the fourth quarter. Avitas Wealth Management LLC now owns 5,954 shares of the real estate investment trust’s stock worth $1,816,000 after buying an additional 2,180 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Public Storage in the fourth quarter worth about $21,590,000. Finally, Forza Wealth Management LLC acquired a new position in shares of Public Storage in the fourth quarter worth about $213,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Buying and Selling

In related news, insider Nathaniel A. Vitan sold 400 shares of the business’s 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 transaction, the insider now owns 3,214 shares of the company’s stock, valued at $881,568.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the insider now owns 3,214 shares in the company, valued at $881,568.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kristy Pipes purchased 2,149 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were acquired at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the purchase, the director now directly owns 2,149 shares of the company’s stock, valued at $599,485.04. The disclosure for this purchase can be found here. 11.00% of the stock is currently owned by insiders.

Public Storage Stock Up 3.9 %

PSA traded up $11.82 during midday trading on Friday, hitting $311.90. 1,217,011 shares of the company’s stock traded hands, compared to its average volume of 652,290. The company has a market cap of $54.81 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 4.39 and a beta of 0.65. The stock’s fifty day simple moving average is $288.97 and its 200-day simple moving average is $282.82. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.93 and a quick ratio of 0.54. Public Storage has a one year low of $233.18 and a one year high of $314.93.

Public Storage (NYSE:PSA) last released its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $4.20 by ($1.54). Public Storage had a net margin of 44.88% and a return on equity of 36.55%. The firm had revenue of $921.70 million during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business earned $4.28 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that Public Storage will post 16.8 earnings per share for the current fiscal year.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Friday, September 13th. Public Storage’s dividend payout ratio (DPR) is currently 108.99%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PSA. Truist Financial cut shares of Public Storage from a “buy” rating to a “hold” rating and set a $306.00 target price for the company. in a report on Thursday. Barclays decreased their price target on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating for the company in a report on Monday, May 20th. Scotiabank raised their price target on shares of Public Storage from $289.00 to $314.00 and gave the stock a “sector perform” rating in a report on Friday, July 19th. Wells Fargo & Company raised their price target on shares of Public Storage from $310.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Evercore ISI raised their price target on shares of Public Storage from $289.00 to $300.00 and gave the stock an “in-line” rating in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $309.73.

Public Storage 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.