Andina Capital Management LLC Sells 74 Shares of Public Storage (NYSE:PSA)

Andina Capital Management LLC reduced its holdings in shares of Public Storage (NYSE:PSA) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 732 shares of the real estate investment trust’s stock after selling 74 shares during the quarter. Andina Capital Management LLC’s holdings in Public Storage were worth $219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Toth Financial Advisory Corp increased its stake in shares of Public Storage by 48.2% during the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 66 shares during the last quarter. Dynamic Advisor Solutions LLC grew its holdings in Public Storage by 97.5% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 8,349 shares of the real estate investment trust’s stock valued at $2,500,000 after purchasing an additional 4,122 shares during the period. CX Institutional increased its position in Public Storage by 60.3% in the fourth quarter. CX Institutional now owns 1,266 shares of the real estate investment trust’s stock worth $379,000 after buying an additional 476 shares during the last quarter. Montecito Bank & Trust increased its position in Public Storage by 8.5% in the fourth quarter. Montecito Bank & Trust now owns 3,416 shares of the real estate investment trust’s stock worth $1,023,000 after buying an additional 268 shares during the last quarter. Finally, IVC Wealth Advisors LLC raised its stake in shares of Public Storage by 6.7% in the fourth quarter. IVC Wealth Advisors LLC now owns 1,559 shares of the real estate investment trust’s stock valued at $467,000 after buying an additional 98 shares during the period. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Public Storage Trading Up 0.2 %

Shares of PSA opened at $292.04 on Friday. The firm has a market cap of $51.14 billion, a P/E ratio of 30.33, a price-to-earnings-growth ratio of 4.68 and a beta of 0.74. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The company has a 50 day simple moving average of $312.93 and a two-hundred day simple moving average of $325.54.

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 given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Friday, December 13th. Public Storage’s dividend payout ratio is presently 124.61%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Public Storage from a “sell” rating to a “hold” rating and boosted their price objective for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial boosted their price target on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Wells Fargo & Company cut their price objective on shares of Public Storage from $375.00 to $365.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Royal Bank of Canada lowered their target price 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, Barclays cut their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company 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, Public Storage currently has an average rating of “Moderate Buy” and a consensus price target of $344.54.

Insider Activity

In other news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the sale, the insider now owns 2,364 shares of the company’s stock, valued at approximately $751,728.36. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 11.00% of the company’s stock.

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.