338 Shares in Public Storage (NYSE:PSA) Acquired by Sherman Asset Management Inc.

Sherman Asset Management Inc. acquired a new position in Public Storage (NYSE:PSA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 338 shares of the real estate investment trust’s stock, valued at approximately $101,000.

Other large investors also recently bought and sold shares of the company. Quent Capital LLC raised its stake in Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Public Storage in the third quarter worth approximately $34,000. Ashton Thomas Securities LLC acquired a new position in shares of Public Storage during the third quarter worth $38,000. Synergy Asset Management LLC acquired a new position in shares of Public Storage during the fourth quarter worth $38,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Public Storage during the third quarter worth $55,000. Institutional investors own 78.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PSA shares. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and upped their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Wells Fargo & Company reduced their price target 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 reduced their price target on Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Truist Financial upped their price target on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Finally, Barclays reduced their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. 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 company. Based on data from MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and an average target price of $340.69.

Public Storage Stock Down 0.7 %

PSA stock opened at $303.46 on Friday. The company has a market cap of $53.14 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 4.91 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 has a 12 month low of $256.31 and a 12 month high of $369.99. The firm has a 50-day moving average of $298.29 and a two-hundred day moving average of $325.15.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.95%. Public Storage’s payout ratio is 112.89%.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the firm’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 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 Securities & Exchange Commission, which is available at this hyperlink. 11.00% of the stock is owned by insiders.

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.