World Investment Advisors LLC Takes $3.71 Million Position in Public Storage (NYSE:PSA)

World Investment Advisors LLC bought a new position in shares of Public Storage (NYSE:PSA - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,205 shares of the real estate investment trust's stock, valued at approximately $3,713,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its holdings in Public Storage by 47.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 12,504 shares of the real estate investment trust's stock valued at $4,221,000 after acquiring an additional 4,016 shares during the last quarter. McIlrath & Eck LLC raised its holdings in shares of Public Storage by 24.6% in the 3rd quarter. McIlrath & Eck LLC now owns 218 shares of the real estate investment trust's stock worth $79,000 after purchasing an additional 43 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Public Storage by 2.4% during the third quarter. TD Private Client Wealth LLC now owns 1,695 shares of the real estate investment trust's stock valued at $617,000 after purchasing an additional 39 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Public Storage by 42.3% during the third quarter. Sunbelt Securities Inc. now owns 919 shares of the real estate investment trust's stock worth $334,000 after buying an additional 273 shares in the last quarter. Finally, Toronto Dominion Bank grew its position in Public Storage by 49.0% in the third quarter. Toronto Dominion Bank now owns 78,471 shares of the real estate investment trust's stock worth $28,553,000 after buying an additional 25,805 shares during the last quarter. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on PSA. Royal Bank of Canada cut their price objective on Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. Citigroup increased their price target on Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Evercore ISI cut their price objective on Public Storage from $343.00 to $338.00 and set an "in-line" rating on the stock in a report on Monday, October 14th. Jefferies Financial Group raised their target price on shares of Public Storage from $360.00 to $422.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Finally, Scotiabank upped their price target on shares of Public Storage from $308.00 to $339.00 and gave the company a "sector perform" rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Public Storage presently has an average rating of "Moderate Buy" and a consensus target price of $342.07.

Public Storage Stock Down 0.1 %

Shares of Public Storage stock traded down $0.17 on Friday, hitting $317.62. 566,822 shares of the company traded hands, compared to its average volume of 713,448. The company has a quick ratio of 0.97, a current 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 company has a 50-day moving average price of $337.34 and a 200 day moving average price of $322.43. The company has a market cap of $55.62 billion, a PE ratio of 32.98, a PEG ratio of 5.38 and a beta of 0.71.

Public Storage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage's payout ratio is currently 124.61%.

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.