Checchi Capital Advisers LLC Purchases 183 Shares of Public Storage (NYSE:PSA)

Checchi Capital Advisers LLC raised its position in shares of Public Storage (NYSE:PSA) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,585 shares of the real estate investment trust’s stock after purchasing an additional 183 shares during the period. Checchi Capital Advisers LLC’s holdings in Public Storage were worth $774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Impact Investors Inc bought a new position in Public Storage during the fourth quarter valued at $200,000. Lake Street Advisors Group LLC grew its holdings in Public Storage by 14.5% during the fourth quarter. Lake Street Advisors Group LLC now owns 992 shares of the real estate investment trust’s stock valued at $297,000 after purchasing an additional 126 shares during the period. Sterling Investment Advisors Ltd. grew its holdings in Public Storage by 5.0% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 3,125 shares of the real estate investment trust’s stock valued at $936,000 after purchasing an additional 150 shares during the period. Amalgamated Bank grew its holdings in Public Storage by 2.5% during the fourth quarter. Amalgamated Bank now owns 32,870 shares of the real estate investment trust’s stock valued at $9,843,000 after purchasing an additional 797 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Public Storage by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,097,640 shares of the real estate investment trust’s stock valued at $328,677,000 after purchasing an additional 21,165 shares during the period. 78.79% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction dated 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 approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on PSA shares. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and increased their price objective for the company from $298.00 to $299.00 in a report on Friday, January 10th. Wells Fargo & Company dropped their target price on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Royal Bank of Canada dropped their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Barclays dropped their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Truist Financial increased 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 issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.69.

Public Storage Trading Down 1.3 %

NYSE PSA opened at $304.45 on Thursday. The stock’s 50-day simple moving average is $297.85 and its two-hundred day simple moving average is $325.31. 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 $53.31 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 4.91 and a beta of 0.74. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77.

Public Storage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be paid a dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.94%. Public Storage’s dividend payout ratio (DPR) is currently 112.89%.

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.