Public Storage (NYSE:PSA) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its position in Public Storage (NYSE:PSAFree Report) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,648 shares of the real estate investment trust’s stock after selling 1,141 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Public Storage were worth $2,333,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Public Storage by 107.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 85 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 44 shares during the last quarter. Private Ocean LLC increased its stake in Public Storage by 5,450.0% during the 4th quarter. Private Ocean LLC now owns 111 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 109 shares during the period. EdgeRock Capital LLC purchased a new stake in shares of Public Storage in the 4th quarter valued at approximately $32,000. Centerpoint Advisors LLC purchased a new stake in shares of Public Storage in the 4th quarter valued at approximately $35,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Public Storage in the 4th quarter valued at approximately $35,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Public Storage news, Director Kristy Pipes purchased 2,149 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average price of $278.96 per share, for a total transaction of $599,485.04. Following the purchase, the director now directly owns 2,149 shares in the company, valued at $599,485.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PSA shares. Scotiabank increased their price objective on shares of Public Storage from $267.00 to $270.00 and gave the company a “sector perform” rating in a research report on Monday, March 18th. Wells Fargo & Company raised shares of Public Storage from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $280.00 to $310.00 in a research report on Friday, April 5th. Raymond James raised shares of Public Storage from a “market perform” rating to a “strong-buy” rating and set a $330.00 price objective on the stock in a research report on Thursday, March 28th. Barclays lowered their target price 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. Finally, BMO Capital Markets upped their target price on shares of Public Storage from $325.00 to $330.00 and gave the company an “outperform” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $304.75.

Read Our Latest Analysis on Public Storage

Public Storage Stock Down 0.8 %

Shares of NYSE:PSA opened at $273.82 on Friday. The stock has a market cap of $48.12 billion, a P/E ratio of 24.87, a P/E/G ratio of 3.82 and a beta of 0.63. The firm has a fifty day moving average price of $273.05 and a 200 day moving average price of $280.62. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.54 and a quick ratio of 0.54. Public Storage has a 1-year low of $233.18 and a 1-year high of $312.25.

Public Storage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 12th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date is Wednesday, June 12th. Public Storage’s dividend payout ratio is currently 108.99%.

About Public Storage

(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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Institutional Ownership by Quarter for Public Storage (NYSE:PSA)

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