Arbor Capital Management Inc. ADV Sells 59 Shares of Public Storage (NYSE:PSA)

Arbor Capital Management Inc. ADV lessened its stake in shares of Public Storage (NYSE:PSA) by 1.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,936 shares of the real estate investment trust’s stock after selling 59 shares during the period. Arbor Capital Management Inc. ADV’s holdings in Public Storage were worth $1,168,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quent Capital LLC lifted its position in shares of Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Public Storage in the third quarter valued at about $34,000. Synergy Asset Management LLC purchased a new position in shares of Public Storage in the fourth quarter valued at about $38,000. Toth Financial Advisory Corp lifted its position in shares of Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 66 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its position in shares of Public Storage by 24.6% in the third quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 43 shares in the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PSA. Scotiabank lowered their price objective on Public Storage from $338.00 to $333.00 and set a “sector perform” rating on the stock in a research report on Wednesday, March 5th. Truist Financial boosted their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Barclays reiterated an “overweight” rating and issued a $354.00 target price (down from $361.00) on shares of Public Storage in a research report on Wednesday. Royal Bank of Canada decreased their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.69.

Public Storage Trading Up 1.8 %

Shares of NYSE PSA opened at $298.29 on Monday. The business’s 50 day moving average is $299.80 and its two-hundred day moving average is $323.47. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The stock has a market capitalization of $52.33 billion, a P/E ratio of 30.98, a PEG ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The firm 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 dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.02%. Public Storage’s dividend payout ratio is 112.89%.

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.