Harbor Capital Advisors Inc. Acquires 105 Shares of Public Storage (NYSE:PSA)

Harbor Capital Advisors Inc. boosted its stake in Public Storage (NYSE:PSA) by 70.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 255 shares of the real estate investment trust’s stock after purchasing an additional 105 shares during the period. Harbor Capital Advisors Inc.’s holdings in Public Storage were worth $76,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Petredis Investment Advisors LLC increased its position in Public Storage by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock valued at $2,497,000 after purchasing an additional 30 shares during the period. S.A. Mason LLC boosted its stake in shares of Public Storage by 3.8% in the 3rd quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock valued at $300,000 after purchasing an additional 30 shares during the last quarter. Haverford Trust Co increased its position in shares of Public Storage by 0.7% during the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock worth $1,558,000 after buying an additional 30 shares during the period. Huntington National Bank raised its stake in Public Storage by 5.4% during the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 33 shares during the last quarter. Finally, Chesapeake Wealth Management lifted its holdings in Public Storage by 2.2% in the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock valued at $560,000 after buying an additional 33 shares during the period. 78.79% of the stock is owned by institutional investors.

Public Storage Stock Up 0.2 %

Shares of NYSE PSA opened at $290.44 on Thursday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50-day moving average price of $319.23 and a 200-day moving average price of $325.70. The stock has a market capitalization of $50.86 billion, a P/E ratio of 30.16, a P/E/G ratio of 5.29 and a beta of 0.74. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage’s dividend payout ratio is currently 124.61%.

Insider Transactions at Public Storage

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

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company decreased their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Evercore ISI cut their target price on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Morgan Stanley lifted their price objective on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group increased their target price on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Public Storage currently has a consensus rating of “Moderate Buy” and an average price target of $344.54.

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.