Impact Investors Inc Invests $200,000 in Public Storage (NYSE:PSA)

Impact Investors Inc bought a new position in shares of Public Storage (NYSE:PSA) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 669 shares of the real estate investment trust’s stock, valued at approximately $200,000.

A number of other large investors also recently bought and sold shares of PSA. Private Advisor Group LLC lifted its stake in shares of Public Storage by 13.3% in the third quarter. Private Advisor Group LLC now owns 5,849 shares of the real estate investment trust’s stock worth $2,128,000 after buying an additional 688 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Public Storage by 12.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,709 shares of the real estate investment trust’s stock worth $1,713,000 after acquiring an additional 535 shares during the last quarter. Dakota Wealth Management purchased a new position in shares of Public Storage during the 3rd quarter worth $217,000. Ballentine Partners LLC acquired a new position in shares of Public Storage during the 3rd quarter valued at about $286,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Public Storage by 31.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,765 shares of the real estate investment trust’s stock valued at $6,692,000 after purchasing an additional 4,476 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Up 1.7 %

Shares of NYSE PSA opened at $308.39 on Wednesday. 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 1 year low of $256.31 and a 1 year high of $369.99. The stock’s 50-day simple moving average is $297.76 and its 200-day simple moving average is $325.45. The firm has a market cap of $54.00 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 4.91 and a beta of 0.74.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.89%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Barclays decreased their target price 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. Wells Fargo & Company lowered their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Truist Financial lifted 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. Royal Bank of Canada lowered their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Seven equities research 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. According to data from MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average target price of $341.85.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 2,364 shares in the company, valued at $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 11.00% of the company’s stock.

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.