12,742 Shares in Public Storage (NYSE:PSA) Bought by Avanza Fonder AB

Avanza Fonder AB purchased a new stake in Public Storage (NYSE:PSA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,742 shares of the real estate investment trust’s stock, valued at approximately $3,815,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PSA. Prospera Private Wealth LLC bought a new stake in Public Storage in the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Storage in the 3rd quarter worth approximately $38,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Public Storage in the 3rd quarter valued at $50,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Public Storage during the third quarter worth $55,000. Finally, Versant Capital Management Inc raised its stake in Public Storage by 301.7% during 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 during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PSA shares. Evercore ISI decreased their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and raised their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial boosted their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Royal Bank of Canada reduced their price objective 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, Wells Fargo & Company dropped 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 report on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average price target of $344.54.

Public Storage Trading Down 0.5 %

NYSE:PSA opened at $296.25 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a one year low of $256.31 and a one year high of $369.99. The company has a market cap of $51.88 billion, a PE ratio of 30.76, a PEG ratio of 4.65 and a beta of 0.74. The firm has a 50-day moving average of $317.82 and a 200-day moving average of $325.26.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders 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 dividend yield of 4.05%. Public Storage’s dividend payout ratio is presently 124.61%.

Insider Buying and Selling

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.10% of the stock is currently 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.