Personal CFO Solutions LLC Invests $215,000 in Public Storage (NYSE:PSA)

Personal CFO Solutions LLC bought a new position in Public Storage (NYSE:PSA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 716 shares of the real estate investment trust’s stock, valued at approximately $215,000.

A number of other hedge funds have also recently modified their holdings of PSA. Quent Capital LLC boosted its stake 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 worth $26,000 after buying an additional 50 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Public Storage in the third quarter worth about $34,000. Ashton Thomas Securities LLC purchased a new stake in shares of Public Storage in the third quarter worth about $38,000. Synergy Asset Management LLC purchased a new stake in shares of Public Storage in the fourth quarter worth about $38,000. Finally, Toth Financial Advisory Corp boosted its stake in shares of Public Storage by 48.2% in the fourth quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Insider Buying and Selling at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $317.99, for a total value of $143,095.50. Following the completion of the sale, the insider now owns 2,364 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.10% of the company’s stock.

Public Storage Price Performance

Shares of Public Storage stock opened at $308.21 on Wednesday. The business has a 50 day simple moving average of $299.84 and a two-hundred day simple moving average of $324.37. Public Storage has a 12 month low of $256.31 and a 12 month high of $369.99. The stock has a market capitalization of $54.06 billion, a P/E ratio of 32.00, a PEG ratio of 4.91 and a beta of 0.73. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a dividend of $3.00 per share. The ex-dividend date is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.89%. Public Storage’s payout ratio is currently 112.89%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PSA shares. Truist Financial upped their target price on Public Storage from $306.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Wells Fargo & Company reduced 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. Scotiabank reduced their price target on Public Storage from $338.00 to $333.00 and set a “sector perform” rating for the company in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and upped their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Finally, Barclays reduced their price target on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Seven investment 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 stock. According to MarketBeat, Public Storage has a consensus rating of “Moderate Buy” and a consensus price target of $340.23.

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.