Clarius Group LLC Has $582,000 Stake in Public Storage (NYSE:PSA)

Clarius Group LLC lowered its position in shares of Public Storage (NYSE:PSA) by 3.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,943 shares of the real estate investment trust’s stock after selling 64 shares during the period. Clarius Group LLC’s holdings in Public Storage were worth $582,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PSA. Petredis Investment Advisors LLC grew its holdings in shares of Public Storage by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock worth $2,497,000 after purchasing an additional 30 shares during the last quarter. S.A. Mason LLC grew its holdings in Public Storage by 3.8% during the 3rd quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 30 shares during the last quarter. Haverford Trust Co increased its position in Public Storage by 0.7% in the 3rd quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock valued at $1,558,000 after acquiring an additional 30 shares during the period. Huntington National Bank raised its stake in shares of Public Storage by 5.4% during the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 33 shares during the last quarter. Finally, Chesapeake Wealth Management lifted its holdings in shares of Public Storage by 2.2% during the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock worth $560,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Public Storage Trading Down 0.5 %

PSA opened at $296.25 on Monday. The company has a fifty day moving average price of $316.96 and a two-hundred day moving average price of $325.63. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a market cap 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 company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

Insiders Place Their Bets

In other 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 transaction, the insider now directly owns 2,364 shares of the company’s stock, valued at $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.00% of the company’s stock.

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.