IVC Wealth Advisors LLC Purchases 98 Shares of Public Storage (NYSE:PSA)

IVC Wealth Advisors LLC boosted its position in shares of Public Storage (NYSE:PSA) by 6.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,559 shares of the real estate investment trust’s stock after acquiring an additional 98 shares during the period. IVC Wealth Advisors LLC’s holdings in Public Storage were worth $467,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Public Storage by 0.5% in the third quarter. State Street Corp now owns 10,370,658 shares of the real estate investment trust’s stock valued at $3,773,571,000 after purchasing an additional 55,123 shares in the last quarter. FMR LLC lifted its position in Public Storage by 20.9% during the third quarter. FMR LLC now owns 5,025,869 shares of the real estate investment trust’s stock valued at $1,828,763,000 after purchasing an additional 869,066 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Public Storage by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,931,572 shares of the real estate investment trust’s stock worth $1,425,941,000 after buying an additional 52,807 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Public Storage by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust’s stock worth $1,023,080,000 after buying an additional 54,992 shares during the last quarter. Finally, APG Asset Management US Inc. lifted its holdings in shares of Public Storage by 4.8% in the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust’s stock valued at $623,485,000 after acquiring an additional 100,000 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Public Storage Price Performance

PSA opened at $291.23 on Friday. The company has a market capitalization of $51.00 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 4.68 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 business’s fifty day simple moving average is $314.60 and its 200-day simple moving average is $325.77.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage’s dividend payout ratio (DPR) is 124.61%.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of Public Storage stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the transaction, the insider now owns 2,364 shares in the company, valued at $751,728.36. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PSA shares. Evercore ISI reduced their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company cut their target price on Public Storage from $375.00 to $365.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Truist Financial raised 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. Barclays cut their price objective on shares of 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, Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and upped their price target for the company from $298.00 to $299.00 in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $344.54.

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.