Public Storage (NYSE:PSA) Shares Sold by Heartland Bank & Trust Co

Heartland Bank & Trust Co cut its holdings in Public Storage (NYSE:PSA) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,408 shares of the real estate investment trust’s stock after selling 51 shares during the quarter. Heartland Bank & Trust Co’s holdings in Public Storage were worth $422,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PSA. Allspring Global Investments Holdings LLC lifted its position in shares of Public Storage by 1.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock valued at $51,762,000 after acquiring an additional 2,605 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in shares of Public Storage by 25.4% during the 4th quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock worth $8,566,000 after purchasing an additional 5,793 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Public Storage by 114.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock worth $33,302,000 after purchasing an additional 48,803 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Public Storage by 3,714.6% during the third quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock worth $666,000 after purchasing an additional 1,783 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Public Storage by 4.1% in the third quarter. Handelsbanken Fonder AB now owns 72,741 shares of the real estate investment trust’s stock worth $26,468,000 after acquiring an additional 2,832 shares in the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PSA. Royal Bank of Canada cut their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Barclays reduced 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. Truist Financial boosted their price target on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Morgan Stanley raised their target price on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company lowered their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and a consensus price target of $344.54.

Public Storage Stock Up 0.2 %

PSA stock opened at $292.04 on Monday. The business has a 50-day moving average of $312.93 and a 200-day moving average of $326.07. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The stock has a market capitalization of $51.14 billion, a P/E ratio of 30.33, a P/E/G ratio of 4.68 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.11%. Public Storage’s dividend payout ratio is presently 124.61%.

Insider Activity

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 shares were 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 in the company, valued at $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.00% of the stock is owned by insiders.

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.