Carrera Capital Advisors Acquires 2,243 Shares of Public Storage (NYSE:PSA)

Carrera Capital Advisors grew its holdings in shares of Public Storage (NYSE:PSA) by 33.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,861 shares of the real estate investment trust’s stock after purchasing an additional 2,243 shares during the period. Carrera Capital Advisors’ holdings in Public Storage were worth $2,653,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PSA. Quent Capital LLC increased its position in shares of Public Storage by 135.1% in the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Public Storage in the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC bought a new position in shares of Public Storage in the third quarter valued at $38,000. Synergy Asset Management LLC acquired a new position in Public Storage during the fourth quarter worth $38,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Public Storage during the third quarter worth $55,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Public Storage from a “sell” rating to a “hold” rating and raised their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial raised their price objective on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Barclays decreased their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company cut their price target on Public Storage from $365.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, Royal Bank of Canada decreased their price objective on shares of Public Storage from $342.00 to $329.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $340.69.

Public Storage Trading Down 1.7 %

NYSE PSA opened at $305.82 on Wednesday. The business’s fifty day moving average is $298.63 and its 200-day moving average is $325.04. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $53.65 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 4.91 and a beta of 0.74. Public Storage has a one year low of $256.31 and a one year high of $369.99.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.92%. The ex-dividend date is Thursday, March 13th. Public Storage’s dividend payout ratio (DPR) is currently 112.89%.

Insider Activity at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the business’s stock in a transaction on Friday, December 13th. The shares were 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 of the company’s stock, valued at $751,728.36. The trade was a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 11.00% of the stock is currently owned by company insiders.

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.