Clare Market Investments LLC Takes $221,000 Position in Public Storage (NYSE:PSA)

Clare Market Investments LLC bought a new position in shares of Public Storage (NYSE:PSA) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 739 shares of the real estate investment trust’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quent Capital LLC boosted its stake in shares of Public Storage by 135.1% in the 4th quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 50 shares during the period. Prospera Private Wealth LLC acquired a new stake in Public Storage in the third quarter valued at approximately $34,000. Ashton Thomas Securities LLC purchased a new position in Public Storage in the third quarter worth approximately $38,000. Synergy Asset Management LLC acquired a new position in Public Storage during the 4th quarter worth approximately $38,000. Finally, Toth Financial Advisory Corp increased its position in shares of Public Storage by 48.2% in the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 66 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. 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. Deutsche Bank Aktiengesellschaft raised Public Storage from a “sell” rating to a “hold” rating and lifted their price target for the stock from $298.00 to $299.00 in a report on Friday, January 10th. Wells Fargo & Company dropped their price objective on Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Barclays decreased their target price on Public Storage from $380.00 to $361.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Scotiabank lowered 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. Seven research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Public Storage currently has a consensus rating of “Moderate Buy” and an average target price of $340.23.

Public Storage Stock Down 0.1 %

PSA stock opened at $313.59 on Tuesday. The company has a market cap of $55.01 billion, a price-to-earnings ratio of 32.56, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The company has a fifty day moving average price of $299.67 and a 200 day moving average price of $324.60. 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 has a 12 month low of $256.31 and a 12 month high of $369.99.

Public Storage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.83%. Public Storage’s payout ratio is 112.89%.

Insider Transactions at Public Storage

In other Public Storage news, insider Nathaniel A. Vitan sold 450 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 2,364 shares of the company’s stock, valued at $751,728.36. This represents a 15.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.00% of the company’s stock.

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.