Rosenberg Matthew Hamilton Raises Stock Holdings in Public Storage (NYSE:PSA)

Rosenberg Matthew Hamilton lifted its stake in Public Storage (NYSE:PSA) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 368 shares of the real estate investment trust’s stock after buying an additional 41 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Public Storage were worth $110,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in Public Storage during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Public Storage during the 3rd quarter valued at $38,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Public Storage during the 3rd quarter valued at $50,000. Harbor Capital Advisors Inc. bought a new position in Public Storage in the 3rd quarter worth $55,000. Finally, Deseret Mutual Benefit Administrators increased its stake in Public Storage by 39.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 206 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 58 shares in the last quarter. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Stock Down 0.0 %

Shares of NYSE PSA opened at $290.15 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The firm’s 50-day moving average price is $319.23 and its 200-day moving average price is $325.70. The stock has a market capitalization of $50.81 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 5.29 and a beta of 0.74.

Public Storage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Friday, December 13th. Public Storage’s payout ratio is 124.61%.

Insider Transactions at Public Storage

In related news, insider Nathaniel A. Vitan sold 450 shares of the stock in a transaction on Friday, December 13th. The stock was 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 in the company, valued at approximately $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on PSA shares. Royal Bank of Canada lowered their price objective on Public Storage from $358.00 to $344.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Evercore ISI dropped their price target on Public Storage from $343.00 to $338.00 and set an “in-line” rating for the company in a research note on Monday, October 14th. Truist Financial lifted their price objective on shares of Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Barclays dropped their target price on shares of Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Morgan Stanley lifted their price target on shares of Public Storage from $293.00 to $315.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $344.54.

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.