Brighton Jones LLC Has $471,000 Stake in Public Storage (NYSE:PSA)

Brighton Jones LLC cut its stake in Public Storage (NYSE:PSA) by 17.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,574 shares of the real estate investment trust’s stock after selling 326 shares during the quarter. Brighton Jones LLC’s holdings in Public Storage were worth $471,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its holdings in Public Storage by 1.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 142,255 shares of the real estate investment trust’s stock worth $51,762,000 after buying an additional 2,605 shares in the last quarter. Capital Investment Advisors LLC lifted its position in shares of Public Storage by 25.4% during the 4th quarter. Capital Investment Advisors LLC now owns 28,608 shares of the real estate investment trust’s stock valued at $8,566,000 after buying an additional 5,793 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Public Storage by 114.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 91,521 shares of the real estate investment trust’s stock valued at $33,302,000 after purchasing an additional 48,803 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Public Storage by 3,714.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,831 shares of the real estate investment trust’s stock valued at $666,000 after buying an additional 1,783 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its position in shares of Public Storage by 4.1% during the third quarter. Handelsbanken Fonder AB now owns 72,741 shares of the real estate investment trust’s stock worth $26,468,000 after acquiring an additional 2,832 shares in the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PSA shares. Wells Fargo & Company reduced their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Truist Financial upped their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Barclays decreased their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Evercore ISI cut their price target on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $344.54.

Insider Buying and Selling

In other news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.00% of the stock is currently owned by corporate insiders.

Public Storage Stock Up 0.2 %

PSA opened at $292.04 on Monday. The business’s fifty day simple moving average is $312.93 and its 200 day simple moving average is $325.80. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market cap of $51.14 billion, a PE ratio of 30.33, a P/E/G ratio of 4.68 and a beta of 0.74.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.11%. Public Storage’s dividend payout ratio is 124.61%.

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.