Asset Planning Services Inc. LA ADV Purchases 590 Shares of Public Storage (NYSE:PSA)

Asset Planning Services Inc. LA ADV grew its holdings in Public Storage (NYSE:PSA) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,988 shares of the real estate investment trust’s stock after acquiring an additional 590 shares during the quarter. Public Storage accounts for approximately 2.8% of Asset Planning Services Inc. LA ADV’s investment portfolio, making the stock its 17th biggest position. Asset Planning Services Inc. LA ADV’s holdings in Public Storage were worth $5,686,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Petredis Investment Advisors LLC raised its holdings in shares of Public Storage by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust’s stock valued at $2,497,000 after purchasing an additional 30 shares during the period. S.A. Mason LLC grew its holdings in Public Storage by 3.8% during the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust’s stock worth $300,000 after buying an additional 30 shares in the last quarter. Haverford Trust Co raised its holdings in shares of Public Storage by 0.7% in the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust’s stock valued at $1,558,000 after purchasing an additional 30 shares during the last quarter. Huntington National Bank lifted its position in shares of Public Storage by 5.4% during the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 33 shares in the last quarter. Finally, Chesapeake Wealth Management boosted its holdings in Public Storage by 2.2% during the third quarter. Chesapeake Wealth Management now owns 1,538 shares of the real estate investment trust’s stock worth $560,000 after purchasing an additional 33 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Trading Down 2.1 %

NYSE:PSA opened at $290.87 on Thursday. Public Storage has a 1 year low of $256.31 and a 1 year high of $369.99. The stock’s fifty day moving average price is $315.48 and its two-hundred day moving average price is $326.01. 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 company has a market cap of $50.93 billion, a P/E ratio of 30.20, a P/E/G ratio of 4.78 and a beta of 0.74.

Public Storage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $3.00 dividend. The ex-dividend date was Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 4.13%. Public Storage’s dividend payout ratio is currently 124.61%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PSA shares. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and lifted their target price for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Evercore ISI cut their price objective on Public Storage from $343.00 to $338.00 and set an “in-line” rating on the stock in a research report on Monday, October 14th. Morgan Stanley lifted their target price on Public Storage from $293.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada reduced their price target on shares of Public Storage from $358.00 to $344.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Finally, Truist Financial lifted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and a consensus price target of $344.54.

Insider Buying and Selling at Public Storage

In other news, insider Nathaniel A. Vitan sold 450 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 2,364 shares in the company, valued at approximately $751,728.36. This trade represents a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.00% of the company’s stock.

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.