711 Shares in Public Storage (NYSE:PSA) Purchased by Yoder Wealth Management Inc.

Yoder Wealth Management Inc. bought a new position in shares of Public Storage (NYSE:PSA) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 711 shares of the real estate investment trust’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in Public Storage by 107.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 44 shares during the period. Core Wealth Advisors Inc. acquired a new position in Public Storage in the fourth quarter valued at approximately $30,000. EdgeRock Capital LLC acquired a new position in Public Storage in the fourth quarter valued at approximately $32,000. Private Ocean LLC lifted its holdings 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 acquiring an additional 109 shares during the period. Finally, Centerpoint Advisors LLC acquired a new position in Public Storage in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analysts Set New Price Targets

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

Public Storage Price Performance

Shares of PSA traded up $1.95 during trading hours on Wednesday, hitting $287.34. 360,209 shares of the stock were exchanged, compared to its average volume of 722,806. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.54 and a current ratio of 0.54. Public Storage has a 12-month low of $233.18 and a 12-month high of $312.25. The company has a market cap of $50.49 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 4.02 and a beta of 0.65. The stock’s 50-day moving average price is $277.08 and its two-hundred day moving average price is $282.77.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th were issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.18%. The ex-dividend date was Wednesday, June 12th. Public Storage’s payout ratio is currently 108.99%.

Insider Buying and Selling at Public Storage

In related news, Director Kristy Pipes bought 2,149 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was bought at an average cost of $278.96 per share, for a total transaction of $599,485.04. Following the acquisition, the director now directly owns 2,149 shares in the company, valued at $599,485.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Public Storage news, insider Nathaniel A. Vitan sold 400 shares of the company’s stock in a transaction on Monday, June 10th. The stock was 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 approximately $881,568.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Kristy Pipes purchased 2,149 shares of the stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average price of $278.96 per share, with a total value of $599,485.04. Following the completion of the acquisition, the director now owns 2,149 shares in the company, valued at approximately $599,485.04. The disclosure for this purchase can be found here. 11.10% of the stock is owned by company 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.