Public Storage (NYSE:PSA) Insider Sells $143,095.50 in Stock

Public Storage (NYSE:PSA) insider Nathaniel A. Vitan sold 450 shares of the company’s 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 transaction, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Public Storage Trading Down 4.3 %

Shares of PSA opened at $299.88 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The firm has a market cap of $52.51 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 5.29 and a beta of 0.71. The business’s fifty day moving average is $335.06 and its 200-day moving average is $323.65.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 4.00%. The ex-dividend date is Friday, December 13th. Public Storage’s payout ratio is 124.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PSA shares. Scotiabank upped their price target on shares of Public Storage from $308.00 to $339.00 and gave the company a “sector perform” rating in a research note on Thursday, August 22nd. Barclays decreased their target price on Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Truist Financial lifted their price target on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Royal Bank of Canada reduced their target price on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Finally, Jefferies Financial Group boosted their price target on Public Storage from $360.00 to $422.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $342.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Prospera Private Wealth LLC acquired a new position in Public Storage during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Public Storage during the third quarter worth $38,000. EdgeRock Capital LLC acquired a new position in shares of Public Storage during the second quarter worth $39,000. Compagnie Lombard Odier SCmA bought a new position in shares of Public Storage in the 3rd quarter valued at $50,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Public Storage during the 3rd quarter valued at $55,000. Institutional investors own 78.79% of the company’s stock.

Public Storage Company 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.