Guidance Capital Inc. Has $494,000 Position in Public Storage (NYSE:PSA)

Guidance Capital Inc. lifted its position in Public Storage (NYSE:PSA) by 8.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,858 shares of the real estate investment trust’s stock after acquiring an additional 142 shares during the period. Guidance Capital Inc.’s holdings in Public Storage were worth $494,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of Public Storage by 107.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 44 shares during the period. Core Wealth Advisors Inc. bought a new stake in Public Storage during the 4th quarter worth approximately $30,000. EdgeRock Capital LLC acquired a new stake in Public Storage during the 4th quarter worth approximately $32,000. Private Ocean LLC lifted its stake in Public Storage by 5,450.0% in the fourth quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 109 shares in the last quarter. Finally, Centerpoint Advisors LLC acquired a new position in shares of Public Storage in the fourth quarter valued at approximately $35,000. Institutional investors own 78.79% of the company’s stock.

Insider Transactions at Public Storage

In other news, Director Kristy Pipes purchased 2,149 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the transaction, the director now owns 2,149 shares of the company’s stock, valued at $599,485.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Public Storage news, insider Nathaniel A. Vitan sold 400 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $274.29, for a total value of $109,716.00. Following the completion of the sale, the insider now directly 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 is available at the SEC website. Also, Director Kristy Pipes purchased 2,149 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was bought at an average cost of $278.96 per share, with a total value of $599,485.04. Following the completion of the purchase, the director now owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The disclosure for this purchase can be found here. Company insiders own 11.00% of the company’s stock.

Public Storage Price Performance

PSA traded up $1.10 on Friday, hitting $287.65. 1,790,167 shares of the stock were exchanged, compared to its average volume of 741,451. The business has a 50-day moving average of $276.19 and a two-hundred day moving average of $282.85. Public Storage has a 12 month low of $233.18 and a 12 month high of $312.25. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $50.55 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 4.00 and a beta of 0.63.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.17%. The ex-dividend date was Wednesday, June 12th. Public Storage’s payout ratio is 108.99%.

Analysts Set New Price Targets

PSA has been the topic of several research reports. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price on the stock in a research note on Thursday, March 28th. Scotiabank increased their target price on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a report on Monday, March 18th. Barclays lowered their price target on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a research note on Monday, May 20th. BMO Capital Markets increased their price objective on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. Finally, Wells Fargo & Company raised Public Storage from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $280.00 to $310.00 in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average target price of $303.00.

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.