Hennion & Walsh Asset Management Inc. Sells 438 Shares of Public Storage (NYSE:PSA)

Hennion & Walsh Asset Management Inc. lessened its holdings in shares of Public Storage (NYSE:PSA) by 9.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,992 shares of the real estate investment trust’s stock after selling 438 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Public Storage were worth $1,158,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. WD Rutherford LLC lifted its stake in Public Storage by 202.2% in the first quarter. WD Rutherford LLC now owns 4,717 shares of the real estate investment trust’s stock valued at $1,368,000 after buying an additional 3,156 shares during the period. Sawyer & Company Inc boosted its stake in Public Storage by 6.3% during the 1st quarter. Sawyer & Company Inc now owns 5,484 shares of the real estate investment trust’s stock worth $1,591,000 after acquiring an additional 324 shares during the last quarter. Edge Wealth Management LLC grew its holdings in Public Storage by 0.3% during the first quarter. Edge Wealth Management LLC now owns 46,433 shares of the real estate investment trust’s stock valued at $13,468,000 after purchasing an additional 134 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Public Storage by 59.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 91,105 shares of the real estate investment trust’s stock valued at $26,426,000 after purchasing an additional 33,797 shares in the last quarter. Finally, Procyon Advisors LLC raised its holdings in Public Storage by 10.6% in the first quarter. Procyon Advisors LLC now owns 8,044 shares of the real estate investment trust’s stock worth $2,333,000 after purchasing an additional 772 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Up 0.4 %

Public Storage stock opened at $287.65 on Monday. The company has a fifty day simple moving average of $276.19 and a 200 day simple moving average of $282.86. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.59. Public Storage has a 1-year low of $233.18 and a 1-year high of $312.25. The company has a market cap of $50.55 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 4.02 and a beta of 0.65.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Wednesday, June 12th were given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Wednesday, June 12th. Public Storage’s dividend payout ratio is currently 108.99%.

Insider Buying and Selling

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 transaction of $109,716.00. Following the transaction, the insider now owns 3,214 shares of the company’s stock, valued at approximately $881,568.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kristy Pipes bought 2,149 shares of the business’s stock in a transaction that occurred on 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 purchase, the director now owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the insider now directly owns 3,214 shares in the company, valued at approximately $881,568.06. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $280.00 to $310.00 in a research report on Friday, April 5th. BMO Capital Markets lifted their price objective on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. Barclays lowered their target price on Public Storage from $330.00 to $327.00 and set an “overweight” rating for the company in a research note on Monday, May 20th. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research note on Thursday, March 28th. Finally, Scotiabank increased their price objective on shares of Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $303.00.

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.