Twin Capital Management Inc. Has $1.41 Million Position in Public Storage (NYSE:PSA)

Twin Capital Management Inc. cut its holdings in Public Storage (NYSE:PSA) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,872 shares of the real estate investment trust’s stock after selling 397 shares during the quarter. Twin Capital Management Inc.’s holdings in Public Storage were worth $1,413,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Whittier Trust Co. lifted its position in shares of Public Storage by 22.9% during the fourth quarter. Whittier Trust Co. now owns 2,000 shares of the real estate investment trust’s stock worth $610,000 after purchasing an additional 373 shares in the last quarter. Brookstone Capital Management boosted 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 buying an additional 301 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of 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 buying an additional 1,902 shares during the period. HB Wealth Management LLC bought a new stake in shares of Public Storage during the fourth quarter worth $429,000. Finally, CoreCap Advisors LLC bought a new stake in shares of Public Storage during the fourth quarter worth $305,000. 78.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PSA has been the subject of a number of research reports. Wells Fargo & Company upgraded Public Storage from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $280.00 to $310.00 in a research report on Friday, April 5th. Scotiabank lifted their price target on shares of Public Storage from $289.00 to $314.00 and gave the stock a “sector perform” rating in a research report on Friday, July 19th. Barclays cut their price objective on shares of Public Storage from $330.00 to $327.00 and set an “overweight” rating on the stock 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 objective on the stock in a research note on Thursday, March 28th. Finally, Evercore ISI upped their target price on shares of Public Storage from $289.00 to $300.00 and gave the company an “in-line” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Public Storage has an average rating of “Moderate Buy” and a consensus target price of $309.64.

Insider Activity at Public Storage

In related news, Director Kristy Pipes bought 2,149 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of $278.96 per share, for a total transaction of $599,485.04. Following the acquisition, the director now owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, Director Kristy Pipes bought 2,149 shares of the stock in a transaction on Tuesday, May 14th. The stock was purchased at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the acquisition, the director now owns 2,149 shares in the company, valued at $599,485.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nathaniel A. Vitan sold 400 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $274.29, for a total value of $109,716.00. Following the completion of the sale, the insider now owns 3,214 shares in the company, valued at $881,568.06. The disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.

Public Storage Trading Down 2.1 %

Public Storage stock traded down $6.42 during mid-day trading on Wednesday, hitting $295.55. 702,156 shares of the company’s stock were exchanged, compared to its average volume of 713,097. The company’s 50 day simple moving average is $286.25 and its 200-day simple moving average is $282.52. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.59. The firm has a market capitalization of $51.94 billion, a P/E ratio of 26.84, a PEG ratio of 4.43 and a beta of 0.65. Public Storage has a fifty-two week low of $233.18 and a fifty-two week high of $314.93.

Public Storage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Wednesday, June 12th were issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Wednesday, June 12th. Public Storage’s dividend payout ratio (DPR) is presently 108.99%.

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.