Captrust Financial Advisors Trims Holdings in Public Storage (NYSE:PSA)

Captrust Financial Advisors reduced its stake in shares of Public Storage (NYSE:PSA - Free Report) by 31.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,493 shares of the real estate investment trust's stock after selling 4,355 shares during the period. Captrust Financial Advisors' holdings in Public Storage were worth $3,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PSA. Walleye Capital LLC purchased a new stake in Public Storage in the third quarter worth approximately $262,000. Isthmus Partners LLC increased its stake in shares of Public Storage by 1.3% in the third quarter. Isthmus Partners LLC now owns 41,396 shares of the real estate investment trust's stock worth $15,063,000 after buying an additional 548 shares during the period. Northwest & Ethical Investments L.P. grew its holdings in Public Storage by 18.9% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 38,548 shares of the real estate investment trust's stock worth $14,026,000 after acquiring an additional 6,124 shares during the last quarter. Vinva Investment Management Ltd boosted its holdings in shares of Public Storage by 14.7% during the third quarter. Vinva Investment Management Ltd now owns 7,266 shares of the real estate investment trust's stock worth $2,591,000 after purchasing an additional 933 shares during the period. Finally, Financial Counselors Inc. bought a new stake in shares of Public Storage in the third quarter worth about $950,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

PSA has been the subject of several research analyst reports. Royal Bank of Canada dropped their price objective on Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. Barclays dropped their price target on Public Storage from $381.00 to $380.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Scotiabank boosted 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 raised their target price on shares of Public Storage from $293.00 to $315.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group increased their price target on shares of Public Storage from $360.00 to $422.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Public Storage presently has a consensus rating of "Moderate Buy" and a consensus target price of $342.07.

Public Storage Stock Performance

Public Storage stock traded down $0.86 during mid-day trading on Thursday, reaching $333.75. 204,095 shares of the stock traded hands, compared to its average volume of 710,538. Public Storage has a 12-month low of $256.31 and a 12-month high of $369.99. The business's 50-day moving average is $341.32 and its 200-day moving average is $320.35. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $58.44 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 5.59 and a beta of 0.71.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $3.00 per share. The ex-dividend date is Friday, December 13th. This represents a $12.00 dividend on an annualized basis and a yield of 3.60%. Public Storage's dividend payout ratio is currently 124.61%.

Public Storage 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.