CX Institutional Buys 476 Shares of Public Storage (NYSE:PSA)

CX Institutional grew its stake in shares of Public Storage (NYSE:PSA) by 60.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,266 shares of the real estate investment trust’s stock after acquiring an additional 476 shares during the period. CX Institutional’s holdings in Public Storage were worth $379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Montecito Bank & Trust grew its position in shares of Public Storage by 8.5% during the 4th quarter. Montecito Bank & Trust now owns 3,416 shares of the real estate investment trust’s stock valued at $1,023,000 after acquiring an additional 268 shares during the period. IVC Wealth Advisors LLC lifted its stake in shares of Public Storage by 6.7% during the 4th quarter. IVC Wealth Advisors LLC now owns 1,559 shares of the real estate investment trust’s stock valued at $467,000 after buying an additional 98 shares in the last quarter. Asset Planning Services Inc. LA ADV lifted its stake in shares of Public Storage by 3.2% during the 4th quarter. Asset Planning Services Inc. LA ADV now owns 18,988 shares of the real estate investment trust’s stock valued at $5,686,000 after buying an additional 590 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Public Storage by 160.3% during the 4th quarter. SG Americas Securities LLC now owns 3,998 shares of the real estate investment trust’s stock valued at $1,197,000 after buying an additional 10,623 shares in the last quarter. Finally, Investment Advisory Group LLC lifted its stake in shares of Public Storage by 8.5% during the 4th quarter. Investment Advisory Group LLC now owns 929 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 73 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Performance

Public Storage stock opened at $292.04 on Monday. The firm’s fifty day moving average price is $312.93 and its 200-day moving average price is $325.80. 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 stock has a market cap of $51.14 billion, a P/E ratio of 30.33, a price-to-earnings-growth ratio of 4.68 and a beta of 0.74. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the transaction, the insider now owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of recent research reports. Barclays dropped their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Morgan Stanley upped their price target on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Truist Financial upped their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and increased their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Finally, 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. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and a consensus target price of $344.54.

Public Storage Company 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.