Public Storage (NYSE:PSA) Insider Sells $109,716.00 in Stock

Public Storage (NYSE:PSAGet Free Report) insider Nathaniel A. Vitan sold 400 shares of Public Storage stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $274.29, for a total value of $109,716.00. Following the completion of the transaction, the insider now owns 3,214 shares of the company’s stock, valued at approximately $881,568.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Public Storage Stock Performance

NYSE:PSA opened at $275.78 on Thursday. The company has a market cap of $48.46 billion, a P/E ratio of 25.05, a P/E/G ratio of 3.83 and a beta of 0.63. Public Storage has a twelve month low of $233.18 and a twelve month high of $312.25. The company’s 50-day moving average price is $272.54 and its 200-day moving average price is $281.04. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th will be paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Wednesday, June 12th. Public Storage’s dividend payout ratio (DPR) is 108.99%.

Institutional Investors Weigh In On Public Storage

Large investors have recently made changes to their positions in the stock. AdvisorNet Financial Inc lifted its position in Public Storage by 3.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock worth $347,000 after buying an additional 35 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in shares of Public Storage by 2.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock valued at $476,000 after acquiring an additional 38 shares during the last quarter. Signet Financial Management LLC boosted its position in shares of Public Storage by 2.1% during the 1st quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock valued at $555,000 after acquiring an additional 39 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of Public Storage by 3.4% in the first quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock valued at $354,000 after purchasing an additional 40 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its position in Public Storage by 3.5% during the first quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 42 shares during the last quarter. 78.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSA has been the topic of several research analyst reports. Scotiabank raised their price objective on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a report on Monday, March 18th. Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $280.00 to $310.00 in a research note on Friday, April 5th. BMO Capital Markets upped their price objective on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 19th. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a report on Thursday, March 28th. Finally, Barclays reduced their price target on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating for the company in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $304.75.

Check Out Our Latest Research Report on PSA

About Public Storage

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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.

Further Reading

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