Public Storage (NYSE:PSA) Shares Bought by UMB Bank n.a.

UMB Bank n.a. raised its stake in Public Storage (NYSE:PSA) by 9.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 20,296 shares of the real estate investment trust’s stock after purchasing an additional 1,671 shares during the quarter. UMB Bank n.a.’s holdings in Public Storage were worth $6,077,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Prospera Private Wealth LLC purchased a new stake in shares of Public Storage in the third quarter valued at $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Public Storage in the third quarter valued at $38,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Public Storage in the third quarter valued at $50,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Public Storage in the third quarter valued at $55,000. Finally, Versant Capital Management Inc grew its position in shares of Public Storage by 301.7% in the fourth quarter. Versant Capital Management Inc now owns 237 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 178 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Price Performance

Shares of NYSE PSA opened at $296.25 on Monday. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The business has a 50 day moving average price of $316.96 and a two-hundred day moving average price of $325.63. 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 firm has a market cap of $51.88 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 4.65 and a beta of 0.74.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $3.00 per share. The ex-dividend date was Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.05%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the 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 transaction, the insider now owns 2,364 shares of the company’s stock, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Royal Bank of Canada lowered their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Truist Financial lifted their price objective on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Wells Fargo & Company lowered their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley boosted their price target on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and boosted their price target for the company 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $344.54.

Public Storage Company 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.