XML Financial LLC Purchases 248 Shares of Public Storage (NYSE:PSA)

XML Financial LLC increased its position in Public Storage (NYSE:PSA) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,697 shares of the real estate investment trust’s stock after purchasing an additional 248 shares during the quarter. XML Financial LLC’s holdings in Public Storage were worth $2,604,000 as of its most recent filing with the Securities & Exchange Commission.

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

Public Storage Trading Up 0.3 %

Shares of NYSE PSA opened at $297.04 on Wednesday. Public Storage has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50 day moving average is $316.15 and its two-hundred day moving average is $325.96. The stock has a market capitalization of $52.01 billion, a P/E ratio of 30.85, a PEG ratio of 4.77 and a beta of 0.74.

Public Storage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 4.04%. Public Storage’s payout ratio is presently 124.61%.

Analysts Set New Price Targets

A number of research firms have weighed in on PSA. Royal Bank of Canada dropped their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Truist Financial upped their price objective on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Evercore ISI lowered their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and lifted their price objective for the company from $298.00 to $299.00 in a research report on Friday, January 10th. Finally, Barclays reduced their price target on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $344.54.

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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 11.10% of the stock is currently owned by insiders.

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.