810 Shares in Public Storage (NYSE:PSA) Bought by Fermata Advisors LLC

Fermata Advisors LLC bought a new position in Public Storage (NYSE:PSA) during the first quarter, according to its most recent filing with the SEC. The firm bought 810 shares of the real estate investment trust’s stock, valued at approximately $235,000.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Public Storage by 107.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 44 shares in the last quarter. Core Wealth Advisors Inc. bought a new position in shares of Public Storage in the 4th quarter worth $30,000. EdgeRock Capital LLC bought a new position in Public Storage during the 4th quarter valued at $32,000. Private Ocean LLC lifted its stake in Public Storage by 5,450.0% during the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 109 shares in the last quarter. Finally, Centerpoint Advisors LLC bought a new position in Public Storage during the 4th quarter valued at $35,000. 78.79% of the stock is currently owned by institutional investors.

Public Storage Stock Performance

Shares of PSA opened at $289.57 on Wednesday. The company has a market cap of $50.89 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 4.08 and a beta of 0.63. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59. The stock has a 50-day moving average price of $274.58 and a 200-day moving average price of $282.64. Public Storage has a 12-month low of $233.18 and a 12-month high of $312.25.

Public Storage Dividend Announcement

The company also recently announced 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 is Wednesday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 4.14%. Public Storage’s payout ratio is 108.99%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PSA. Barclays lowered their target price on 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 lifted their price objective on Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a report on Monday, March 18th. Wells Fargo & Company raised Public Storage from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $280.00 to $310.00 in a report on Friday, April 5th. Raymond James raised 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. Finally, BMO Capital Markets lifted their price objective on Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $303.00.

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.