Rowlandmiller & PARTNERS.ADV Lowers Stake in Public Storage (NYSE:PSA)

Rowlandmiller & PARTNERS.ADV lessened its holdings in Public Storage (NYSE:PSA) by 2.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,827 shares of the real estate investment trust’s stock after selling 140 shares during the quarter. Rowlandmiller & PARTNERS.ADV’s holdings in Public Storage were worth $1,980,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Tompkins Financial Corp grew its stake in shares of Public Storage by 3.1% in the 1st quarter. Tompkins Financial Corp now owns 24,242 shares of the real estate investment trust’s stock worth $7,032,000 after buying an additional 722 shares during the last quarter. Pensionfund Sabic grew its stake in shares of Public Storage by 28.5% in the first quarter. Pensionfund Sabic now owns 13,513 shares of the real estate investment trust’s stock worth $3,920,000 after acquiring an additional 3,000 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Public Storage by 13.4% in the first quarter. GAMMA Investing LLC now owns 660 shares of the real estate investment trust’s stock worth $191,000 after acquiring an additional 78 shares during the last quarter. Lake Hills Wealth Management LLC bought a new position in shares of Public Storage during the first quarter valued at $211,000. Finally, Pensionfund DSM Netherlands raised its position in shares of Public Storage by 11.1% in the 1st quarter. Pensionfund DSM Netherlands now owns 26,989 shares of the real estate investment trust’s stock worth $7,828,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors own 78.79% of the company’s stock.

Wall Street Analyst Weigh In

PSA has been the subject of a number of analyst reports. Wells Fargo & Company upgraded shares of Public Storage from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $280.00 to $310.00 in a research note on Friday, April 5th. Raymond James raised Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a research report on Thursday, March 28th. BMO Capital Markets increased their target price on Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a research note on Tuesday, March 19th. Barclays decreased their price target on Public Storage from $330.00 to $327.00 and set an “overweight” rating for the company in a research note on Monday, May 20th. Finally, Scotiabank increased their price objective on Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $303.00.

Insider Buying and Selling at Public Storage

In other Public Storage news, Director Kristy Pipes purchased 2,149 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the purchase, the director now directly owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Nathaniel A. Vitan sold 400 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $274.29, for a total transaction of $109,716.00. Following the completion of the transaction, the insider now directly owns 3,214 shares in the company, valued at approximately $881,568.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kristy Pipes bought 2,149 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the purchase, the director now owns 2,149 shares in the company, valued at approximately $599,485.04. The disclosure for this purchase can be found here. 11.10% of the stock is owned by corporate insiders.

Public Storage Stock Performance

NYSE:PSA traded up $7.65 on Wednesday, hitting $291.45. The stock had a trading volume of 899,063 shares, compared to its average volume of 672,764. Public Storage has a 52-week low of $233.18 and a 52-week high of $312.25. The stock has a market cap of $51.22 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 3.96 and a beta of 0.63. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. The business’s 50-day simple moving average is $272.79 and its two-hundred day simple moving average is $281.99.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 12th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $12.00 annualized dividend and a yield of 4.12%. Public Storage’s dividend payout ratio (DPR) is 108.99%.

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.