1834 Investment Advisors Co. Sells 1,285 Shares of Public Storage (NYSE:PSA)

1834 Investment Advisors Co. trimmed its stake in shares of Public Storage (NYSE:PSA) by 8.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,403 shares of the real estate investment trust’s stock after selling 1,285 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Public Storage were worth $4,013,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Prospera Private Wealth LLC bought a new position in Public Storage during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new position in Public Storage during the third quarter worth $38,000. Compagnie Lombard Odier SCmA acquired a new position in Public Storage in the third quarter valued at $50,000. Harbor Capital Advisors Inc. bought a new stake in Public Storage during the third quarter valued at $55,000. Finally, Toth Financial Advisory Corp grew its holdings in 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 acquiring an additional 66 shares during the period. 78.79% of the stock is owned by institutional investors and hedge funds.

Public Storage Stock Performance

Shares of Public Storage stock opened at $292.04 on Friday. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The business has a 50 day moving average price of $312.93 and a 200-day moving average price of $325.54. The company has a market cap of $51.14 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 4.68 and a beta of 0.74.

Public Storage Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Friday, December 13th. Public Storage’s payout ratio is currently 124.61%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised 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. Evercore ISI reduced their price objective on shares of Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research report on Monday, October 14th. 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 research report on Thursday, December 5th. Morgan Stanley raised their price target on shares of Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada dropped their price objective 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. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $344.54.

Insider Buying and Selling at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares in the company, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 11.00% of the company’s stock.

Public Storage 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.