IFP Advisors Inc Purchases 210 Shares of Public Storage (NYSE:PSA)

IFP Advisors Inc grew its position in shares of Public Storage (NYSE:PSA) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,684 shares of the real estate investment trust’s stock after acquiring an additional 210 shares during the quarter. IFP Advisors Inc’s holdings in Public Storage were worth $804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of PSA. Assenagon Asset Management S.A. raised its holdings in Public Storage by 12.8% during the third quarter. Assenagon Asset Management S.A. now owns 4,709 shares of the real estate investment trust’s stock worth $1,713,000 after buying an additional 535 shares during the last quarter. Pallas Capital Advisors LLC increased its position in shares of Public Storage by 58.1% during the third quarter. Pallas Capital Advisors LLC now owns 1,404 shares of the real estate investment trust’s stock worth $475,000 after acquiring an additional 516 shares in the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Public Storage by 3.9% in the 3rd quarter. Integrated Advisors Network LLC now owns 3,026 shares of the real estate investment trust’s stock worth $1,101,000 after acquiring an additional 114 shares during the last quarter. Childress Capital Advisors LLC bought a new position in Public Storage in the 3rd quarter valued at about $221,000. Finally, First Trust Direct Indexing L.P. boosted its stake in Public Storage by 27.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,337 shares of the real estate investment trust’s stock valued at $1,942,000 after purchasing an additional 1,150 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSA has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial raised their price objective on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Barclays cut their price objective 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. Royal Bank of Canada lowered their target price on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company cut their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. 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 data from MarketBeat.com, Public Storage currently has an average rating of “Moderate Buy” and an average price target of $340.69.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.00% of the company’s stock.

Public Storage Stock Up 0.4 %

Public Storage stock opened at $305.50 on Friday. The firm has a 50 day moving average price of $298.17 and a 200-day moving average price of $325.17. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a market capitalization of $53.50 billion, a P/E ratio of 31.72, a P/E/G ratio of 4.91 and a beta of 0.74.

Public Storage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio is currently 112.89%.

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.