Public Storage (NYSE:PSA) Shares Acquired by UMB Bank n.a.

UMB Bank n.a. lifted its holdings in shares of Public Storage (NYSE:PSA) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,296 shares of the real estate investment trust’s stock after buying an additional 1,671 shares during the quarter. UMB Bank n.a.’s holdings in Public Storage were worth $6,077,000 as of its most recent SEC filing.

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

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction 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 directly owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 11.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company cut their target price 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. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and raised their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Evercore ISI dropped their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Morgan Stanley raised their price target on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial raised their price target on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and a consensus price target of $344.54.

Public Storage Trading Down 0.5 %

Shares of PSA stock opened at $296.25 on Monday. The business’s 50 day moving average is $316.96 and its two-hundred day moving average is $325.63. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a market capitalization of $51.88 billion, a P/E ratio of 30.76, a price-to-earnings-growth ratio of 4.65 and a beta of 0.74. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a $3.00 dividend. 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 4.05%. Public Storage’s dividend payout ratio (DPR) is presently 124.61%.

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.