Sanctuary Advisors LLC Raises Stock Holdings in Public Storage (NYSE:PSA)

Sanctuary Advisors LLC boosted its holdings in Public Storage (NYSE:PSA) by 47.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,504 shares of the real estate investment trust’s stock after purchasing an additional 4,016 shares during the period. Sanctuary Advisors LLC’s holdings in Public Storage were worth $4,221,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PSA. Prospera Private Wealth LLC bought a new position in shares of Public Storage during the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage in the third quarter worth $38,000. EdgeRock Capital LLC bought a new stake in shares of Public Storage in the second quarter valued at $39,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Public Storage during the 3rd quarter valued at $50,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Public Storage during the 3rd quarter valued at $55,000. Institutional investors own 78.79% of the company’s stock.

Analyst Ratings Changes

PSA has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Scotiabank raised their price objective on shares of Public Storage from $308.00 to $339.00 and gave the stock a “sector perform” rating in a report on Thursday, August 22nd. Truist Financial boosted their target price on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, December 5th. Royal Bank of Canada cut their price target on Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Barclays reduced their price target on Public Storage from $381.00 to $380.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $342.07.

Insiders Place Their Bets

In related news, insider Nathaniel A. Vitan sold 450 shares of the firm’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 completion of the transaction, the insider now owns 2,364 shares of the company’s stock, valued at $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.00% of the stock is owned by corporate insiders.

Public Storage Stock Down 0.8 %

Shares of NYSE PSA opened at $315.16 on Tuesday. The firm has a fifty day simple moving average of $336.71 and a two-hundred day simple moving average of $323.54. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $55.19 billion, a PE ratio of 32.73, a price-to-earnings-growth ratio of 5.29 and a beta of 0.71.

Public Storage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 annualized dividend and a dividend yield of 3.81%. Public Storage’s dividend payout ratio is presently 124.61%.

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.