Public Storage (NYSE:PSA) Shares Bought by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC grew its holdings in shares of Public Storage (NYSE:PSA) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,274 shares of the real estate investment trust’s stock after purchasing an additional 499 shares during the period. Public Storage accounts for 1.3% of GC Wealth Management RIA LLC’s portfolio, making the stock its 17th biggest position. GC Wealth Management RIA LLC’s holdings in Public Storage were worth $7,269,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Clare Market Investments LLC acquired a new stake in shares of Public Storage during the fourth quarter worth $221,000. Independent Advisor Alliance raised its holdings in shares of Public Storage by 5.1% during the fourth quarter. Independent Advisor Alliance now owns 1,322 shares of the real estate investment trust’s stock worth $396,000 after purchasing an additional 64 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Public Storage by 30.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 136,676 shares of the real estate investment trust’s stock worth $40,926,000 after purchasing an additional 31,662 shares during the period. United Community Bank raised its holdings in shares of Public Storage by 12.7% during the fourth quarter. United Community Bank now owns 3,810 shares of the real estate investment trust’s stock worth $1,141,000 after purchasing an additional 430 shares during the period. Finally, Personal CFO Solutions LLC bought a new position in shares of Public Storage during the fourth quarter worth about $215,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Price Performance

Shares of NYSE PSA opened at $313.59 on Tuesday. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a market capitalization of $55.01 billion, a price-to-earnings ratio of 32.56, a PEG ratio of 4.91 and a beta of 0.73. The firm has a 50-day moving average of $299.67 and a two-hundred day moving average of $324.60.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Thursday, March 13th. Public Storage’s payout ratio is 112.89%.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction dated 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 directly owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on PSA shares. Royal Bank of Canada lowered their price target on shares of 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. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company lowered their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Scotiabank lowered their price target on shares of Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Finally, Barclays lowered 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. Seven investment 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 company’s stock. Based on data from MarketBeat.com, Public Storage presently has an average rating of “Moderate Buy” and an average price target of $340.23.

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.