IFP Advisors Inc Purchases 210 Shares of Public Storage (NYSE:PSA)

IFP Advisors Inc grew its position in shares of Public Storage (NYSE:PSA) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,684 shares of the real estate investment trust’s stock after purchasing an additional 210 shares during the period. IFP Advisors Inc’s holdings in Public Storage were worth $804,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in Public Storage during the fourth quarter valued at $6,335,000. Union Bancaire Privee UBP SA bought a new stake in shares of Public Storage during the 4th quarter valued at about $1,647,000. Howard Capital Management Inc. grew its holdings in shares of Public Storage by 5.4% during the fourth quarter. Howard Capital Management Inc. now owns 1,045 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 54 shares in the last quarter. LDR Capital Management LLC increased its position in shares of Public Storage by 10.1% in the fourth quarter. LDR Capital Management LLC now owns 6,388 shares of the real estate investment trust’s stock worth $1,913,000 after purchasing an additional 588 shares during the last quarter. Finally, Winebrenner Capital Management LLC purchased a new stake in Public Storage in the fourth quarter valued at approximately $639,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PSA. Royal Bank of Canada cut 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 note on Wednesday. Truist Financial upped their target price 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. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and raised their price target for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company cut their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Barclays decreased their price objective on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $340.69.

Public Storage Trading Up 0.4 %

Shares of PSA stock opened at $305.50 on Friday. The business has a 50-day moving average of $298.17 and a 200 day moving average of $325.17. 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 has a 1-year low of $256.31 and a 1-year high of $369.99. The stock has a market capitalization of $53.50 billion, a PE ratio of 31.72, a P/E/G ratio of 4.91 and a beta of 0.74.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is presently 112.89%.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction 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 $751,728.36. This represents a 15.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 11.00% of the company’s stock.

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.