Personal CFO Solutions LLC Buys Shares of 716 Public Storage (NYSE:PSA)

by · The Cerbat Gem

Personal CFO Solutions LLC bought a new stake in shares of Public Storage (NYSE:PSA – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 716 shares of the real estate investment trust’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PSA. Sigma Planning Corp bought a new stake in Public Storage during the 3rd quarter valued at $238,000. Legacy Capital Wealth Partners LLC bought a new stake in Public Storage during the 3rd quarter valued at $224,000. Axxcess Wealth Management LLC raised its position in shares of Public Storage by 68.2% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,709 shares of the real estate investment trust’s stock worth $622,000 after acquiring an additional 693 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Public Storage in the 3rd quarter worth $38,000. Finally, Apollon Wealth Management LLC raised its position in shares of Public Storage by 26.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,688 shares of the real estate investment trust’s stock worth $614,000 after acquiring an additional 354 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Down 1.7 %

Public Storage stock opened at $308.21 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. The business’s 50-day simple moving average is $299.84 and its two-hundred day simple moving average is $324.37. The company has a market cap of $54.06 billion, a PE ratio of 32.00, a PEG ratio of 4.91 and a beta of 0.73. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99.

Public Storage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be paid a dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 3.89%. Public Storage’s payout ratio is presently 112.89%.

Analysts Set New Price Targets

PSA has been the subject of several recent research reports. Wells Fargo & Company reduced their price target 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. Barclays reduced their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada reduced their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Deutsche Bank Aktiengesellschaft raised 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, January 10th. Finally, Scotiabank reduced their price target on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $340.23.

Read Our Latest Analysis on Public Storage

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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.10% of the company’s stock.

About Public Storage

(Free Report)

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.

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