Hummer Financial Advisory Services Inc Has $999,000 Position in Public Storage (NYSE:PSA)

Hummer Financial Advisory Services Inc raised its holdings in Public Storage (NYSE:PSAFree Report) by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,444 shares of the real estate investment trust’s stock after acquiring an additional 200 shares during the quarter. Public Storage comprises approximately 0.8% of Hummer Financial Advisory Services Inc’s holdings, making the stock its 22nd largest position. Hummer Financial Advisory Services Inc’s holdings in Public Storage were worth $999,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. First Affirmative Financial Network lifted its stake in Public Storage by 14.4% in the first quarter. First Affirmative Financial Network now owns 896 shares of the real estate investment trust’s stock valued at $260,000 after acquiring an additional 113 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Public Storage by 6.1% in the first quarter. Park Avenue Securities LLC now owns 3,193 shares of the real estate investment trust’s stock valued at $926,000 after acquiring an additional 184 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services acquired a new stake in Public Storage in the first quarter valued at approximately $1,448,000. Banque Cantonale Vaudoise raised its position in shares of Public Storage by 22.8% in the first quarter. Banque Cantonale Vaudoise now owns 4,782 shares of the real estate investment trust’s stock valued at $1,387,000 after purchasing an additional 887 shares during the period. Finally, Czech National Bank raised its position in shares of Public Storage by 0.5% in the first quarter. Czech National Bank now owns 27,844 shares of the real estate investment trust’s stock valued at $8,076,000 after purchasing an additional 128 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Storage

In other Public Storage news, Director Kristy Pipes purchased 2,149 shares of the stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of $278.96 per share, with a total value of $599,485.04. Following the acquisition, the director now directly owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Kristy Pipes bought 2,149 shares of Public Storage stock in a transaction dated Tuesday, May 14th. The shares were bought at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the purchase, the director now owns 2,149 shares of the company’s stock, valued at $599,485.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nathaniel A. Vitan sold 400 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $274.29, for a total transaction of $109,716.00. Following the completion of the sale, the insider now owns 3,214 shares in the company, valued at approximately $881,568.06. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Public Storage Stock Performance

PSA stock traded down $0.92 on Friday, reaching $291.05. 1,488,557 shares of the company were exchanged, compared to its average volume of 680,741. The firm has a market capitalization of $51.15 billion, a PE ratio of 26.44, a PEG ratio of 4.08 and a beta of 0.63. 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 stock’s fifty day moving average price is $273.51 and its 200 day moving average price is $282.31. Public Storage has a 12 month low of $233.18 and a 12 month high of $312.25.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend is Wednesday, June 12th. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $280.00 to $310.00 in a research report on Friday, April 5th. Scotiabank lifted their price target on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a research report on Thursday, March 28th. Barclays dropped their price target on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. Finally, BMO Capital Markets lifted their price target on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and a consensus price target of $303.00.

Check Out Our Latest Report on Public Storage

About Public Storage

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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