Larson Financial Group LLC Raises Stock Holdings in Public Storage (NYSE:PSA)

Larson Financial Group LLC raised its stake in shares of Public Storage (NYSE:PSA) by 6.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,943 shares of the real estate investment trust’s stock after acquiring an additional 112 shares during the period. Larson Financial Group LLC’s holdings in Public Storage were worth $582,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC lifted its position in Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Prospera Private Wealth LLC purchased a new stake in Public Storage during the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC bought a new position in shares of Public Storage during the 3rd quarter valued at $38,000. Synergy Asset Management LLC purchased a new position in shares of Public Storage in the 4th quarter worth $38,000. Finally, Toth Financial Advisory Corp boosted its stake in shares of Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Stock Up 1.8 %

Shares of PSA stock opened at $313.99 on Monday. 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 one year low of $256.31 and a one year high of $369.99. The company’s fifty day moving average price is $299.31 and its 200-day moving average price is $324.74. The company has a market capitalization of $55.08 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 4.91 and a beta of 0.73.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be given a $3.00 dividend. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.82%. Public Storage’s payout ratio is 112.89%.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction that occurred on 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on PSA shares. Barclays reduced their price objective 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 shares of 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. Truist Financial raised their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company reduced their target price on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and increased their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Seven equities research 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. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and an average price target of $340.23.

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.