Toth Financial Advisory Corp Acquires 66 Shares of Public Storage (NYSE:PSA)

Toth Financial Advisory Corp increased its holdings in shares of Public Storage (NYSE:PSA) by 48.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 203 shares of the real estate investment trust’s stock after purchasing an additional 66 shares during the period. Toth Financial Advisory Corp’s holdings in Public Storage were worth $61,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Public Storage by 122.5% during the second quarter. EverSource Wealth Advisors LLC now owns 267 shares of the real estate investment trust’s stock worth $79,000 after acquiring an additional 147 shares in the last quarter. MBB Public Markets I LLC bought a new stake in shares of Public Storage during the 2nd quarter valued at approximately $3,296,000. NewEdge Advisors LLC increased its position in Public Storage by 12.7% during the 2nd quarter. NewEdge Advisors LLC now owns 136,923 shares of the real estate investment trust’s stock worth $39,386,000 after purchasing an additional 15,459 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Public Storage by 61.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 18,584 shares of the real estate investment trust’s stock worth $5,346,000 after purchasing an additional 7,090 shares in the last quarter. Finally, Wellington Wealth Strategies LLC. bought a new position in Public Storage in the 2nd quarter valued at approximately $411,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Public Storage Stock Up 0.2 %

Shares of NYSE PSA 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 debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company’s 50 day moving average price is $312.93 and its 200-day moving average price is $325.54. The company has a market capitalization 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.

Public Storage Announces Dividend

The company also recently declared 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. The ex-dividend date was Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.11%. Public Storage’s dividend payout ratio (DPR) is currently 124.61%.

Analyst Ratings Changes

PSA has been the subject of several research analyst reports. Wells Fargo & Company lowered their price target 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. Truist Financial upped their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Morgan Stanley upped their price objective on Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Barclays cut their target price 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. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $344.54.

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.