Sentry Investment Management LLC Has $176,000 Position in Public Storage (NYSE:PSA)

Sentry Investment Management LLC lessened its holdings in shares of Public Storage (NYSE:PSA) by 14.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 589 shares of the real estate investment trust’s stock after selling 96 shares during the quarter. Sentry Investment Management LLC’s holdings in Public Storage were worth $176,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Quent Capital LLC increased its position in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 50 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Public Storage in the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new position in Public Storage during the 3rd quarter valued at about $38,000. Synergy Asset Management LLC bought a new stake in Public Storage during the 4th quarter worth approximately $38,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Public Storage in the third quarter worth approximately $55,000. Institutional investors and hedge funds own 78.79% of the company’s stock.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the sale, the insider now directly owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PSA has been the topic of several analyst reports. Wells Fargo & Company cut 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. Royal Bank of Canada cut their price objective on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Truist Financial upped their target price on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Barclays dropped their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Seven 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, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $341.85.

Public Storage Stock Up 1.7 %

PSA opened at $308.39 on Wednesday. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company’s 50-day moving average price is $297.76 and its two-hundred day moving average price is $325.45. The stock has a market cap of $54.00 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 4.91 and a beta of 0.74. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be paid a $3.00 dividend. The ex-dividend date is Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 3.89%. Public Storage’s payout ratio is 124.61%.

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.