Cwm LLC Sells 4,046 Shares of Public Storage (NYSE:PSA)

Cwm LLC decreased its stake in shares of Public Storage (NYSE:PSAFree Report) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,822 shares of the real estate investment trust’s stock after selling 4,046 shares during the period. Cwm LLC owned approximately 0.05% of Public Storage worth $27,214,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of Public Storage by 29.9% during the third quarter. JPMorgan Chase & Co. now owns 3,168,763 shares of the real estate investment trust’s stock worth $835,032,000 after acquiring an additional 729,262 shares in the last quarter. Norges Bank bought a new stake in shares of Public Storage during the fourth quarter worth $821,151,000. Charles Schwab Investment Management Inc. increased its position in shares of Public Storage by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,687,170 shares of the real estate investment trust’s stock worth $794,161,000 after acquiring an additional 216,331 shares in the last quarter. Northern Trust Corp boosted its holdings in Public Storage by 2.8% during the third quarter. Northern Trust Corp now owns 2,311,981 shares of the real estate investment trust’s stock worth $609,253,000 after purchasing an additional 63,289 shares during the last quarter. Finally, APG Asset Management US Inc. boosted its holdings in Public Storage by 4.7% during the fourth quarter. APG Asset Management US Inc. now owns 2,074,617 shares of the real estate investment trust’s stock worth $632,758,000 after purchasing an additional 93,122 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Insider Buying and Selling

In other news, Director Kristy Pipes acquired 2,149 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average price of $278.96 per share, with a total value of $599,485.04. Following the completion of the transaction, the director now directly owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Kristy Pipes acquired 2,149 shares of Public Storage stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of $278.96 per share, for a total transaction of $599,485.04. Following the completion of the purchase, the director now directly owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nathaniel A. Vitan sold 400 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $274.29, for a total transaction of $109,716.00. Following the sale, the insider now owns 3,214 shares in the company, valued at $881,568.06. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by company insiders.

Public Storage Stock Performance

Shares of PSA traded up $7.65 during trading hours on Wednesday, hitting $291.45. The company had a trading volume of 899,063 shares, compared to its average volume of 672,764. The firm has a market cap of $51.22 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 3.96 and a beta of 0.63. The business has a fifty day moving average of $272.48 and a 200-day moving average of $281.93. Public Storage has a 12 month low of $233.18 and a 12 month high of $312.25. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.59.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 12th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.12%. The ex-dividend date is Wednesday, June 12th. Public Storage’s dividend payout ratio (DPR) is currently 108.99%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price for the company in a report on Thursday, March 28th. Scotiabank increased their target price on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a report on Monday, March 18th. Barclays cut 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 note on Monday, May 20th. BMO Capital Markets increased their price target on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Finally, Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $280.00 to $310.00 in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $303.00.

Check Out Our Latest Analysis on PSA

Public Storage Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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