Mutual of America Capital Management LLC Sells 518 Shares of Public Storage (NYSE:PSA)

Mutual of America Capital Management LLC trimmed its position in Public Storage (NYSE:PSA) by 2.7% during the 4th quarter, HoldingsChannel reports. The firm owned 18,878 shares of the real estate investment trust’s stock after selling 518 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Public Storage were worth $5,653,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Flputnam Investment Management Co. increased its holdings in shares of Public Storage by 2.3% in the fourth quarter. Flputnam Investment Management Co. now owns 79,564 shares of the real estate investment trust’s stock worth $23,825,000 after purchasing an additional 1,763 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of Public Storage by 5.3% in the fourth quarter. QRG Capital Management Inc. now owns 20,982 shares of the real estate investment trust’s stock worth $6,283,000 after purchasing an additional 1,056 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Public Storage in the fourth quarter worth about $66,253,000. FUKOKU MUTUAL LIFE INSURANCE Co increased its holdings in shares of Public Storage by 28.0% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,149 shares of the real estate investment trust’s stock worth $344,000 after purchasing an additional 251 shares during the last quarter. Finally, New York Life Investment Management LLC increased its holdings in shares of Public Storage by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 23,390 shares of the real estate investment trust’s stock worth $7,004,000 after purchasing an additional 66 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Up 2.4 %

Shares of NYSE:PSA opened at $310.86 on Tuesday. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The business has a 50 day simple moving average of $298.53 and a two-hundred day simple moving average of $325.14. The firm has a market capitalization of $54.53 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.86%. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction that occurred on Friday, December 13th. The shares were 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 owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PSA shares. Wells Fargo & Company dropped their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Royal Bank of Canada dropped their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Barclays dropped their price target 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. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Truist Financial lifted their price target on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.69.

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.