Bleakley Financial Group LLC Increases Stock Holdings in Public Storage (NYSE:PSA)

Bleakley Financial Group LLC increased its stake in shares of Public Storage (NYSE:PSA – Free Report) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,230 shares of the real estate investment trust’s stock after buying an additional 57 shares during the quarter. Bleakley Financial Group LLC’s holdings in Public Storage were worth $357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc raised its holdings in Public Storage by 3.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,139 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 35 shares during the period. Gryphon Financial Partners LLC raised its stake in shares of Public Storage by 2.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,562 shares of the real estate investment trust’s stock valued at $476,000 after purchasing an additional 38 shares during the period. Signet Financial Management LLC raised its stake in shares of Public Storage by 2.1% during the 1st quarter. Signet Financial Management LLC now owns 1,913 shares of the real estate investment trust’s stock valued at $555,000 after purchasing an additional 39 shares during the period. Brookstone Capital Management lifted its holdings in Public Storage by 3.4% during the 1st quarter. Brookstone Capital Management now owns 1,222 shares of the real estate investment trust’s stock worth $354,000 after purchasing an additional 40 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in Public Storage by 3.5% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,232 shares of the real estate investment trust’s stock worth $357,000 after purchasing an additional 42 shares during the period. 78.79% of the stock is owned by hedge funds and other institutional investors.

Public Storage Trading Down 0.6 %

Shares of PSA stock opened at $301.91 on Friday. The business has a 50-day moving average price of $285.08 and a two-hundred day moving average price of $282.72. Public Storage has a 12-month low of $233.18 and a 12-month high of $314.93. 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 cap of $53.05 billion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 4.42 and a beta of 0.65.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Wednesday, June 12th were given a $3.00 dividend. The ex-dividend date was Wednesday, June 12th. This represents a $12.00 dividend on an annualized basis and a yield of 3.97%. Public Storage’s payout ratio is 108.99%.

Analysts Set New Price Targets

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

View Our Latest Stock Analysis on Public Storage

Insiders Place Their Bets

In other Public Storage news, Director Kristy Pipes purchased 2,149 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average cost of $278.96 per share, with a total value of $599,485.04. Following the completion of the purchase, the director now owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Public Storage news, Director Kristy Pipes purchased 2,149 shares of the stock in a transaction on Tuesday, May 14th. The stock was acquired at an average cost of $278.96 per share, with a total value of $599,485.04. Following the completion of the purchase, the director now directly owns 2,149 shares of the company’s stock, valued at approximately $599,485.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nathaniel A. Vitan sold 400 shares of the firm’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 transaction, the insider now directly 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 Company Profile

(Free Report)

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.

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