Nisa Investment Advisors LLC Cuts Stock Holdings in Public Storage (NYSE:PSA)

Nisa Investment Advisors LLC lowered its stake in Public Storage (NYSE:PSA) by 4.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 89,394 shares of the real estate investment trust’s stock after selling 4,600 shares during the period. Nisa Investment Advisors LLC’s holdings in Public Storage were worth $26,768,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PSA. Allspring Global Investments Holdings LLC grew its position in Public Storage by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock worth $51,762,000 after acquiring an additional 2,605 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in shares of Public Storage by 25.4% in the fourth 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. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Public Storage by 114.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock worth $33,302,000 after purchasing an additional 48,803 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Public Storage by 3,714.6% in the third quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock worth $666,000 after buying an additional 1,783 shares during the period. Finally, Handelsbanken Fonder AB raised its holdings in Public Storage by 4.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 72,741 shares of the real estate investment trust’s stock valued at $26,468,000 after buying an additional 2,832 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.10% of the company’s stock.

Public Storage Trading Down 2.1 %

Shares of NYSE PSA opened at $290.87 on Thursday. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a 50-day moving average of $315.48 and a 200 day moving average of $326.01. The stock has a market cap of $50.93 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 4.77 and a beta of 0.74.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $3.00 per share. The ex-dividend date was Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 4.13%. Public Storage’s payout ratio is 124.61%.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of analyst reports. Truist Financial boosted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Wells Fargo & Company lowered their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley lifted their price objective on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and upped their target price for the company from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Barclays cut their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

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.