Generation Capital Management LLC Makes New $877,000 Investment in Public Storage (NYSE:PSA)

Generation Capital Management LLC acquired a new stake in shares of Public Storage (NYSE:PSA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,928 shares of the real estate investment trust's stock, valued at approximately $877,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quent Capital LLC grew its holdings in shares of Public Storage by 135.1% during the fourth quarter. Quent Capital LLC now owns 87 shares of the real estate investment trust's stock worth $26,000 after buying an additional 50 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Public Storage in the fourth quarter valued at approximately $32,000. Synergy Asset Management LLC bought a new stake in shares of Public Storage in the fourth quarter worth $38,000. Millstone Evans Group LLC acquired a new position in Public Storage during the fourth quarter worth $38,000. Finally, Bridge Generations Wealth Management LLC bought a new position in Public Storage in the fourth quarter valued at $56,000. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PSA. Truist Financial upgraded Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a report on Thursday, April 10th. Barclays reissued an "overweight" rating and issued a $354.00 target price (down from $361.00) on shares of Public Storage in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and upped their price target for the stock from $298.00 to $299.00 in a research report on Friday, January 10th. Bank of America raised Public Storage from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $349.00 to $368.00 in a research report on Tuesday. Finally, Mizuho initiated coverage on Public Storage in a research note on Wednesday, April 9th. They set a "neutral" rating and a $287.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $336.25.

Public Storage Price Performance

Public Storage stock traded up $0.32 during trading hours on Wednesday, reaching $296.99. 258,863 shares of the stock were exchanged, compared to its average volume of 734,092. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99. The company has a market cap of $52.10 billion, a P/E ratio of 30.84, a price-to-earnings-growth ratio of 4.91 and a beta of 0.76. The stock has a 50 day moving average of $295.58 and a two-hundred day moving average of $310.80.

Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were paid a $3.00 dividend. The ex-dividend date was Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.04%. Public Storage's dividend payout ratio (DPR) is 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.