Trustmark National Bank Trust Department Invests $204,000 in Public Storage (NYSE:PSA)

Trustmark National Bank Trust Department bought a new stake in Public Storage (NYSE:PSA) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 702 shares of the real estate investment trust’s stock, valued at approximately $204,000.

Several other large investors have also recently added to or reduced their stakes in PSA. Whittier Trust Co. increased its position in Public Storage by 22.9% in the 4th quarter. Whittier Trust Co. now owns 2,000 shares of the real estate investment trust’s stock valued at $610,000 after acquiring an additional 373 shares during the period. Brookstone Capital Management increased its position in Public Storage by 34.2% in the 4th quarter. Brookstone Capital Management now owns 1,182 shares of the real estate investment trust’s stock valued at $361,000 after acquiring an additional 301 shares during the period. SG Americas Securities LLC increased its position in Public Storage by 23.4% in the 4th quarter. SG Americas Securities LLC now owns 10,041 shares of the real estate investment trust’s stock valued at $3,063,000 after acquiring an additional 1,902 shares during the period. HB Wealth Management LLC acquired a new stake in Public Storage in the 4th quarter valued at approximately $429,000. Finally, CoreCap Advisors LLC acquired a new stake in Public Storage in the 4th quarter valued at approximately $305,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Kristy Pipes purchased 2,149 shares of Public Storage stock in a transaction on Tuesday, May 14th. The stock was bought at an average price of $278.96 per share, with a total value of $599,485.04. Following the completion of the transaction, the director now directly owns 2,149 shares of the company’s stock, valued at $599,485.04. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Nathaniel A. Vitan sold 400 shares of the business’s stock in a transaction dated 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 owns 3,214 shares of the company’s stock, valued at approximately $881,568.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kristy Pipes acquired 2,149 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of $278.96 per share, with a total value of $599,485.04. Following the transaction, the director now directly owns 2,149 shares in the company, valued at approximately $599,485.04. The disclosure for this purchase can be found here. Insiders own 11.00% of the company’s stock.

Public Storage Stock Down 0.7 %

Shares of NYSE:PSA traded down $2.14 on Wednesday, reaching $299.83. The company had a trading volume of 239,255 shares, compared to its average volume of 709,732. Public Storage has a twelve month low of $233.18 and a twelve month high of $314.93. The stock has a 50-day moving average price of $286.07 and a 200 day moving average price of $282.42. The stock has a market capitalization of $52.69 billion, a P/E ratio of 27.27, a P/E/G ratio of 4.43 and a beta of 0.65. 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 Announces Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, June 12th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 4.00%. Public Storage’s dividend payout ratio is currently 108.99%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PSA shares. Evercore ISI increased their price target on Public Storage from $289.00 to $300.00 and gave the company an “in-line” rating in a research note on Monday, July 15th. Scotiabank lifted their price target on Public Storage from $289.00 to $314.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $280.00 to $310.00 in a report on Friday, April 5th. Raymond James upgraded Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price target on the stock in a report on Thursday, March 28th. Finally, Barclays lowered their price target on Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock in a report on Monday, May 20th. One equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $309.64.

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.