Doliver Advisors LP Buys 36 Shares of Public Storage (NYSE:PSA)

Doliver Advisors LP grew its stake in Public Storage (NYSE:PSA) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,446 shares of the real estate investment trust’s stock after buying an additional 36 shares during the quarter. Doliver Advisors LP’s holdings in Public Storage were worth $433,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Prospera Private Wealth LLC bought a new stake in Public Storage during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Public Storage during the 3rd quarter valued at $38,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Public Storage during the 3rd quarter valued at $50,000. Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage during the 3rd quarter valued at $55,000. Finally, Deseret Mutual Benefit Administrators boosted its holdings in Public Storage by 39.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 206 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 58 shares during the period. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

PSA has been the topic of several recent analyst reports. Wells Fargo & Company decreased their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Barclays reduced their price objective on shares of Public Storage from $381.00 to $380.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Evercore ISI dropped their target price on shares of 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. Royal Bank of Canada reduced 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 report on Friday, November 8th. Finally, Jefferies Financial Group boosted their price target on shares of Public Storage from $360.00 to $422.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Public Storage currently has an average rating of “Moderate Buy” and an average price target of $342.07.

Insider Activity at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total transaction of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares in the company, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.00% of the stock is owned by company insiders.

Public Storage Trading Down 0.9 %

Public Storage stock traded down $2.64 during midday trading on Monday, reaching $297.81. The stock had a trading volume of 255,845 shares, compared to its average volume of 480,845. Public Storage has a 52-week low of $256.31 and a 52-week high of $369.99. The company has a fifty day moving average of $324.74 and a 200 day moving average of $325.52. The firm has a market cap of $52.15 billion, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 5.29 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 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 dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage’s dividend payout ratio is currently 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.