HB Wealth Management LLC Sells 140 Shares of Public Storage (NYSE:PSA)

HB Wealth Management LLC lessened its stake in Public Storage (NYSE:PSA) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,773 shares of the real estate investment trust’s stock after selling 140 shares during the period. HB Wealth Management LLC’s holdings in Public Storage were worth $830,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PSA. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new stake in Public Storage in the third quarter worth about $38,000. Compagnie Lombard Odier SCmA bought a new stake in Public Storage during the 3rd quarter worth about $50,000. Harbor Capital Advisors Inc. acquired a new position in Public Storage during the 3rd quarter valued at about $55,000. Finally, Versant Capital Management Inc boosted its stake in shares of Public Storage by 301.7% in the 4th quarter. Versant Capital Management Inc now owns 237 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 178 shares during the last quarter. Institutional investors and hedge funds own 78.79% of the company’s stock.

Public Storage Stock Performance

Shares of PSA opened at $297.04 on Wednesday. The firm has a market cap of $52.01 billion, a P/E ratio of 30.85, a PEG ratio of 4.77 and a beta of 0.74. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s 50 day moving average price is $316.15 and its two-hundred day moving average price is $325.96.

Public Storage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage’s payout ratio is presently 124.61%.

Wall Street Analysts Forecast Growth

PSA has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price target on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Evercore ISI decreased their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Barclays cut their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Truist Financial boosted their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and a consensus target price of $344.54.

Insiders Place Their Bets

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’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 transaction of $143,095.50. Following the completion of the transaction, the insider now owns 2,364 shares of the company’s stock, valued at $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 11.10% of the company’s stock.

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.