Chatham Capital Group Inc. Sells 76 Shares of Public Storage (NYSE:PSA)

Chatham Capital Group Inc. lowered its holdings in Public Storage (NYSE:PSA) by 0.7% in the first quarter, HoldingsChannel.com reports. The firm owned 11,420 shares of the real estate investment trust’s stock after selling 76 shares during the quarter. Chatham Capital Group Inc.’s holdings in Public Storage were worth $3,312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PSA. O Shaughnessy Asset Management LLC boosted its holdings in Public Storage by 18.5% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 9,470 shares of the real estate investment trust’s stock valued at $2,496,000 after purchasing an additional 1,481 shares during the period. Mather Group LLC. lifted its holdings in shares of Public Storage by 9.7% during the 3rd quarter. Mather Group LLC. now owns 2,436 shares of the real estate investment trust’s stock worth $642,000 after acquiring an additional 216 shares during the period. Synovus Financial Corp lifted its holdings in shares of Public Storage by 6.7% during the 3rd quarter. Synovus Financial Corp now owns 4,335 shares of the real estate investment trust’s stock worth $1,143,000 after acquiring an additional 273 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Public Storage by 14.3% during the 3rd quarter. Bank of Nova Scotia now owns 15,086 shares of the real estate investment trust’s stock worth $3,975,000 after acquiring an additional 1,886 shares during the period. Finally, Gotham Asset Management LLC lifted its holdings in shares of Public Storage by 150.7% during the 3rd quarter. Gotham Asset Management LLC now owns 2,773 shares of the real estate investment trust’s stock worth $731,000 after acquiring an additional 1,667 shares during the period. Institutional investors own 78.79% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Public Storage

In other news, Director Kristy Pipes acquired 2,149 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was bought at an average cost of $278.96 per share, for a total transaction of $599,485.04. Following the completion of the transaction, the director now directly owns 2,149 shares in the company, valued at approximately $599,485.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kristy Pipes acquired 2,149 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was bought at an average cost of $278.96 per share, for a total transaction of $599,485.04. Following the completion of the transaction, the director now directly owns 2,149 shares in the company, valued at approximately $599,485.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nathaniel A. Vitan sold 400 shares of the stock in a transaction 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 sale, the insider now owns 3,214 shares of the company’s stock, valued at $881,568.06. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

Public Storage Trading Up 0.4 %

NYSE PSA traded up $1.10 on Friday, hitting $287.65. The company’s stock had a trading volume of 1,790,167 shares, compared to its average volume of 741,451. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. Public Storage has a 1-year low of $233.18 and a 1-year high of $312.25. The company’s 50-day moving average is $276.19 and its 200 day moving average is $282.86. The firm has a market cap of $50.55 billion, a PE ratio of 26.13, a PEG ratio of 4.02 and a beta of 0.63.

Public Storage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Wednesday, June 12th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 4.17%. The ex-dividend date of this dividend was Wednesday, June 12th. Public Storage’s dividend payout ratio (DPR) is currently 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.