Public Storage (NYSE:PSA) is Ellsworth Advisors LLC’s 8th Largest Position

Ellsworth Advisors LLC grew its position in Public Storage (NYSE:PSA) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,916 shares of the real estate investment trust’s stock after purchasing an additional 563 shares during the quarter. Public Storage comprises approximately 1.8% of Ellsworth Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. Ellsworth Advisors LLC’s holdings in Public Storage were worth $6,862,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV boosted its holdings in Public Storage by 2.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 12,363 shares of the real estate investment trust’s stock valued at $3,919,000 after purchasing an additional 325 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Public Storage by 173.3% in the 2nd quarter. XTX Topco Ltd now owns 1,905 shares of the real estate investment trust’s stock valued at $548,000 after buying an additional 1,208 shares during the period. Brighton Jones LLC boosted its stake in shares of Public Storage by 35.4% in the second quarter. Brighton Jones LLC now owns 2,079 shares of the real estate investment trust’s stock worth $598,000 after buying an additional 543 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Public Storage by 10.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,248 shares of the real estate investment trust’s stock worth $2,372,000 after buying an additional 758 shares during the last quarter. Finally, AE Wealth Management LLC grew its holdings in Public Storage by 28.2% during the second quarter. AE Wealth Management LLC now owns 3,065 shares of the real estate investment trust’s stock worth $882,000 after acquiring an additional 675 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.10% of the stock is owned by corporate insiders.

Public Storage Trading Down 0.5 %

Shares of Public Storage stock opened at $296.25 on Monday. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. 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 business has a 50 day moving average price of $316.96 and a 200 day moving average price of $325.63. The company has a market capitalization of $51.88 billion, a P/E ratio of 30.76, a P/E/G ratio of 4.65 and a beta of 0.74.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given 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 yield of 4.05%. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSA. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their price objective for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Evercore ISI lowered their price target 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. Truist Financial boosted their price objective on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Morgan Stanley increased their target price on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada dropped their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $344.54.

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.