871 Shares in Public Storage (NYSE:PSA) Purchased by Leo Wealth LLC

Leo Wealth LLC bought a new stake in shares of Public Storage (NYSE:PSA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 871 shares of the real estate investment trust’s stock, valued at approximately $264,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PSA. Blair William & Co. IL lifted its stake in Public Storage by 3.1% during the 3rd quarter. Blair William & Co. IL now owns 2,852 shares of the real estate investment trust’s stock valued at $752,000 after acquiring an additional 85 shares during the period. Rafferty Asset Management LLC lifted its stake in Public Storage by 5.0% during the 3rd quarter. Rafferty Asset Management LLC now owns 17,680 shares of the real estate investment trust’s stock valued at $4,659,000 after acquiring an additional 843 shares during the period. QRG Capital Management Inc. bought a new position in Public Storage during the 3rd quarter valued at about $4,607,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Public Storage in the 3rd quarter worth approximately $1,194,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Public Storage by 17.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 133,907 shares of the real estate investment trust’s stock worth $35,287,000 after purchasing an additional 20,166 shares during the period. Institutional investors own 78.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Barclays lowered their price objective on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a research note on Monday, May 20th. 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. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective for the company in a report on Thursday, March 28th. Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $280.00 to $310.00 in a report on Friday, April 5th. Finally, BMO Capital Markets increased their price objective on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $303.00.

Public Storage Trading Up 0.2 %

PSA stock opened at $283.80 on Tuesday. The firm has a market cap of $49.87 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 3.96 and a beta of 0.63. The firm has a fifty day moving average price of $272.52 and a 200 day moving average price of $281.75. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $312.25. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.54 and a current ratio of 0.54.

Public Storage Announces Dividend

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 given a $3.00 dividend. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.23%. Public Storage’s dividend payout ratio is presently 108.99%.

Insider Buying and Selling

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

About Public Storage

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.