Clifford Swan Investment Counsel LLC Sells 360 Shares of Public Storage (NYSE:PSA)

Clifford Swan Investment Counsel LLC reduced its position in shares of Public Storage (NYSE:PSA) by 1.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,306 shares of the real estate investment trust’s stock after selling 360 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Public Storage were worth $7,877,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Public Storage by 0.5% during the 3rd quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust’s stock valued at $3,773,571,000 after purchasing an additional 55,123 shares during the last quarter. FMR LLC raised its holdings in shares of Public Storage by 20.9% in the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock valued at $1,828,763,000 after buying an additional 869,066 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Public Storage by 1.4% in the third quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust’s stock valued at $1,425,941,000 after buying an additional 52,807 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Public Storage by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock valued at $1,023,080,000 after buying an additional 54,992 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Public Storage by 732.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,543,857 shares of the real estate investment trust’s stock worth $561,763,000 after acquiring an additional 1,358,493 shares during the last quarter. 78.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the firm’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 value of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.00% of the company’s stock.

Public Storage Price Performance

Shares of PSA opened at $303.46 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The company has a 50 day moving average of $298.29 and a 200-day moving average of $325.15. The stock has a market capitalization of $53.14 billion, a P/E ratio of 31.51, a P/E/G ratio of 4.91 and a beta of 0.74. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99.

Public Storage Announces Dividend

The business 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 $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 yield of 3.95%. Public Storage’s dividend payout ratio is 112.89%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PSA. Royal Bank of Canada dropped their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of 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 research note on Friday, January 10th. Truist Financial upped their target price 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. 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 research note on Monday, January 13th. Finally, Wells Fargo & Company dropped their price objective 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 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $340.69.

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.