CWA Asset Management Group LLC acquired a new position in Public Storage (NYSE:PSA - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 51,836 shares of the real estate investment trust's stock, valued at approximately $18,862,000. Public Storage accounts for approximately 1.0% of CWA Asset Management Group LLC's portfolio, making the stock its 23rd largest holding.
Other institutional investors have also recently made changes to their positions in the company. Petredis Investment Advisors LLC lifted its stake in Public Storage by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust's stock worth $2,497,000 after purchasing an additional 30 shares in the last quarter. S.A. Mason LLC lifted its position in shares of Public Storage by 3.8% in the third quarter. S.A. Mason LLC now owns 825 shares of the real estate investment trust's stock worth $300,000 after buying an additional 30 shares in the last quarter. Yoder Wealth Management Inc. boosted its stake in Public Storage by 5.0% during the third quarter. Yoder Wealth Management Inc. now owns 763 shares of the real estate investment trust's stock valued at $278,000 after buying an additional 36 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Public Storage by 0.9% during the second quarter. Assenagon Asset Management S.A. now owns 4,174 shares of the real estate investment trust's stock valued at $1,201,000 after buying an additional 39 shares during the last quarter. Finally, Rise Advisors LLC grew its holdings in Public Storage by 3.4% during the 3rd quarter. Rise Advisors LLC now owns 1,275 shares of the real estate investment trust's stock valued at $464,000 after buying an additional 42 shares in the last quarter. Hedge funds and other institutional investors own 78.79% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on PSA. Citigroup upped their price objective on Public Storage from $303.00 to $378.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Scotiabank increased their price objective 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. Morgan Stanley lifted their price objective on shares of Public Storage from $293.00 to $315.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 2nd. Jefferies Financial Group upped their target price on shares of Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Finally, Wolfe Research raised shares of Public Storage to a "strong-buy" rating in a report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $339.71.
Read Our Latest Research Report on Public Storage
Public Storage Trading Up 1.9 %
PSA stock traded up $6.29 during midday trading on Friday, reaching $339.42. The company's stock had a trading volume of 611,198 shares, compared to its average volume of 716,600. Public Storage has a 1 year low of $241.60 and a 1 year high of $369.99. The firm has a market capitalization of $59.44 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 4.58 and a beta of 0.70. The stock has a fifty day simple moving average of $346.94 and a two-hundred day simple moving average of $311.34. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97.
Public Storage Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage's dividend payout ratio is presently 124.61%.
Public Storage 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.
Further Reading
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