Fifth Third Wealth Advisors LLC Buys 138 Shares of Public Storage (NYSE:PSA)

Fifth Third Wealth Advisors LLC grew its stake in Public Storage (NYSE:PSA) by 9.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,530 shares of the real estate investment trust’s stock after acquiring an additional 138 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Public Storage were worth $458,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in shares of Public Storage in the 3rd quarter worth about $34,000. Ashton Thomas Securities LLC bought a new stake in Public Storage during the 3rd quarter valued at about $38,000. Compagnie Lombard Odier SCmA purchased a new position in Public Storage in the third quarter worth about $50,000. Harbor Capital Advisors Inc. bought a new position in shares of Public Storage in the third quarter worth approximately $55,000. Finally, Versant Capital Management Inc lifted its stake in shares of Public Storage by 301.7% in the fourth quarter. Versant Capital Management Inc now owns 237 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 178 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of Public Storage 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 transaction, the insider now directly owns 2,364 shares of the company’s stock, valued at $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 available at this hyperlink. 11.10% of the stock is owned by company insiders.

Analyst Ratings Changes

PSA has been the subject of a number of recent analyst reports. Truist Financial boosted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Morgan Stanley boosted their price target on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Wells Fargo & Company lowered their target price on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Evercore ISI dropped their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $344.54.

Public Storage Stock Up 2.5 %

PSA opened at $297.79 on Friday. The firm’s 50 day simple moving average is $318.53 and its two-hundred day simple moving average is $325.45. The company has a market capitalization of $52.15 billion, a PE ratio of 30.92, a PEG ratio of 4.65 and a beta of 0.74. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.03%. Public Storage’s dividend payout ratio is currently 124.61%.

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.