Public Storage (NYSE:PSA) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its stake in Public Storage (NYSE:PSA) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,284 shares of the real estate investment trust’s stock after selling 3,472 shares during the period. Janney Montgomery Scott LLC’s holdings in Public Storage were worth $9,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in PSA. SG Americas Securities LLC boosted its position in shares of Public Storage by 160.3% in the 4th quarter. SG Americas Securities LLC now owns 3,998 shares of the real estate investment trust’s stock valued at $1,197,000 after purchasing an additional 10,623 shares during the period. Investment Advisory Group LLC boosted its holdings in shares of Public Storage by 8.5% in the fourth quarter. Investment Advisory Group LLC now owns 929 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 73 shares during the period. Advisory Alpha LLC grew its position in shares of Public Storage by 12.0% during the fourth quarter. Advisory Alpha LLC now owns 1,679 shares of the real estate investment trust’s stock worth $503,000 after acquiring an additional 180 shares during the last quarter. XML Financial LLC increased its holdings in shares of Public Storage by 2.9% in the 4th quarter. XML Financial LLC now owns 8,697 shares of the real estate investment trust’s stock valued at $2,604,000 after acquiring an additional 248 shares during the period. Finally, Atomi Financial Group Inc. raised its position in Public Storage by 8.4% in the 4th quarter. Atomi Financial Group Inc. now owns 890 shares of the real estate investment trust’s stock valued at $267,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insider Activity

In related news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the transaction, the insider now directly owns 2,364 shares of the company’s stock, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 11.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PSA has been the topic of several research reports. Evercore ISI lowered their price objective on shares of 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. Wells Fargo & Company dropped their price target on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada decreased their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Truist Financial boosted their target price on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $344.54.

Public Storage Stock Performance

NYSE:PSA opened at $297.80 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a fifty-two week low of $256.31 and a fifty-two week high of $369.99. The firm’s fifty day simple moving average is $312.93 and its 200-day simple moving average is $326.07. The stock has a market cap of $52.15 billion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 4.68 and a beta of 0.74.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $3.00 dividend. The ex-dividend date was Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.03%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

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.