Kohmann Bosshard Financial Services LLC Makes New Investment in Public Storage (NYSE:PSA)

Kohmann Bosshard Financial Services LLC purchased a new stake in Public Storage (NYSE:PSA) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 366 shares of the real estate investment trust’s stock, valued at approximately $110,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PSA. Smartleaf Asset Management LLC lifted its holdings in shares of Public Storage by 109.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 861 shares of the real estate investment trust’s stock valued at $255,000 after purchasing an additional 449 shares during the last quarter. Sherman Asset Management Inc. acquired a new stake in Public Storage during the 4th quarter worth about $101,000. Aew Capital Management L P lifted its stake in Public Storage by 108.6% during the fourth quarter. Aew Capital Management L P now owns 439,400 shares of the real estate investment trust’s stock valued at $131,574,000 after buying an additional 228,740 shares in the last quarter. Flputnam Investment Management Co. boosted its holdings in shares of Public Storage by 2.3% in the fourth quarter. Flputnam Investment Management Co. now owns 79,564 shares of the real estate investment trust’s stock worth $23,825,000 after buying an additional 1,763 shares during the period. Finally, QRG Capital Management Inc. increased its position in shares of Public Storage by 5.3% in the fourth quarter. QRG Capital Management Inc. now owns 20,982 shares of the real estate investment trust’s stock worth $6,283,000 after acquiring an additional 1,056 shares in the last quarter. Institutional investors and hedge funds 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 Public Storage stock in a transaction on Friday, December 13th. The shares were 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. The trade was a 15.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 11.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PSA shares. Wells Fargo & Company cut their price target on shares of Public Storage from $365.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a “sell” rating to a “hold” rating and boosted their target price for the company from $298.00 to $299.00 in a research note on Friday, January 10th. Royal Bank of Canada decreased their target price on Public Storage from $342.00 to $329.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Truist Financial upped their price target on Public Storage from $306.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, December 5th. Finally, Barclays reduced their price objective 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. Seven 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 data from MarketBeat.com, Public Storage has an average rating of “Moderate Buy” and a consensus target price of $340.69.

Public Storage Stock Down 0.7 %

PSA opened at $303.46 on Monday. The company has a market capitalization of $53.23 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 4.91 and a beta of 0.74. 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 fifty-two week low of $256.31 and a fifty-two week high of $369.99. The business has a 50-day moving average of $298.29 and a 200-day moving average of $325.18.

Public Storage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Thursday, March 13th will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Thursday, March 13th. Public Storage’s payout ratio is presently 112.89%.

Public Storage Company 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.