Public Storage (NYSE:PSA) Shares Acquired by Forza Wealth Management LLC

Forza Wealth Management LLC increased its holdings in shares of Public Storage (NYSE:PSA) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 750 shares of the real estate investment trust’s stock after acquiring an additional 53 shares during the quarter. Forza Wealth Management LLC’s holdings in Public Storage were worth $225,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Capital Investment Advisors LLC lifted its holdings in shares of Public Storage by 25.4% in 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 last quarter. Czech National Bank increased its position in Public Storage by 6.5% in the fourth quarter. Czech National Bank now owns 34,170 shares of the real estate investment trust’s stock worth $10,232,000 after buying an additional 2,083 shares during the period. Graypoint LLC boosted its holdings in shares of Public Storage by 7.5% during the fourth quarter. Graypoint LLC now owns 747 shares of the real estate investment trust’s stock valued at $224,000 after acquiring an additional 52 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Public Storage by 70.0% during the fourth quarter. Harbor Capital Advisors Inc. now owns 255 shares of the real estate investment trust’s stock worth $76,000 after acquiring an additional 105 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Public Storage during the fourth quarter worth about $7,849,000. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PSA. Barclays reduced their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday. Truist Financial raised their target price on Public Storage from $306.00 to $340.00 and gave the company 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 boosted their price target for the stock from $298.00 to $299.00 in a research report on Friday. Wells Fargo & Company lowered their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Jefferies Financial Group upped their price objective on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $344.54.

Public Storage Price Performance

NYSE PSA traded up $0.48 on Monday, reaching $289.47. The company’s stock had a trading volume of 225,373 shares, compared to its average volume of 608,451. The firm’s 50 day moving average is $321.09 and its two-hundred day moving average is $325.66. The stock has a market cap of $50.69 billion, a PE ratio of 30.06, a PEG ratio of 5.29 and a beta of 0.74. 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 twelve month low of $256.31 and a twelve month high of $369.99.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a $3.00 dividend. The ex-dividend date was Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 4.15%. Public Storage’s dividend payout ratio (DPR) is 124.61%.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total transaction of $143,095.50. Following the sale, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.00% of the stock is owned by corporate insiders.

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.