Trilogy Capital Inc. Has $2.66 Million Stake in Public Storage (NYSE:PSA)

Trilogy Capital Inc. decreased its position in Public Storage (NYSE:PSA) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,181 shares of the real estate investment trust’s stock after selling 190 shares during the quarter. Trilogy Capital Inc.’s holdings in Public Storage were worth $2,663,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its stake in shares of Public Storage by 16.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 9,741 shares of the real estate investment trust’s stock worth $2,567,000 after purchasing an additional 1,349 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Public Storage by 8.0% during the third quarter. The Manufacturers Life Insurance Company now owns 123,852 shares of the real estate investment trust’s stock worth $32,638,000 after purchasing an additional 9,223 shares during the period. Gold Investment Management Ltd. acquired a new position in Public Storage during the fourth quarter valued at approximately $849,000. Raymond James & Associates raised its position in shares of Public Storage by 4.3% in the fourth quarter. Raymond James & Associates now owns 114,482 shares of the real estate investment trust’s stock valued at $34,917,000 after purchasing an additional 4,695 shares during the period. Finally, Ellsworth Advisors LLC lifted its stake in shares of Public Storage by 615.7% in the fourth quarter. Ellsworth Advisors LLC now owns 19,803 shares of the real estate investment trust’s stock worth $6,040,000 after buying an additional 17,036 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Up 0.4 %

PSA opened at $287.65 on Monday. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $312.25. The company has a market capitalization of $50.55 billion, a P/E ratio of 26.13, a P/E/G ratio of 4.02 and a beta of 0.65. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.54. The firm’s fifty day moving average price is $276.19 and its two-hundred day moving average price is $282.86.

Public Storage Dividend Announcement

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

Insider Buying and Selling

In other news, insider Nathaniel A. Vitan sold 400 shares of the company’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 sale, the insider now directly owns 3,214 shares in the company, valued at approximately $881,568.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Nathaniel A. Vitan sold 400 shares of the business’s stock in a transaction 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 sale, the insider now owns 3,214 shares of the company’s stock, valued at approximately $881,568.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kristy Pipes acquired 2,149 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average price of $278.96 per share, with a total value of $599,485.04. Following the completion of the purchase, the director now directly owns 2,149 shares of the company’s stock, valued at $599,485.04. The disclosure for this purchase can be found here. Company insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PSA shares. Raymond James upgraded shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 target price on the stock in a report on Thursday, March 28th. Scotiabank boosted their price objective on Public Storage from $267.00 to $270.00 and gave the stock a “sector perform” rating in a research report on Monday, March 18th. Wells Fargo & Company raised Public Storage from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $280.00 to $310.00 in a report on Friday, April 5th. Barclays cut their price target on Public Storage from $330.00 to $327.00 and set an “overweight” rating for the company in a report on Monday, May 20th. Finally, BMO Capital Markets raised their price objective on shares of Public Storage from $325.00 to $330.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 19th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.