Chesapeake Capital Corp IL 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 filing with the Securities & Exchange Commission. The institutional investor bought 2,354 shares of the real estate investment trust's stock, valued at approximately $857,000. Public Storage makes up approximately 0.8% of Chesapeake Capital Corp IL's portfolio, making the stock its 27th largest position.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Petredis Investment Advisors LLC raised its stake in Public Storage by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 6,862 shares of the real estate investment trust's stock valued at $2,497,000 after buying an additional 30 shares during the period. S.A. Mason LLC raised its stake in 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 valued at $300,000 after buying an additional 30 shares during the period. Haverford Trust Co raised its stake in Public Storage by 0.7% in the third quarter. Haverford Trust Co now owns 4,282 shares of the real estate investment trust's stock valued at $1,558,000 after buying an additional 30 shares during the period. Huntington National Bank raised its stake in Public Storage by 5.4% in the third quarter. Huntington National Bank now owns 645 shares of the real estate investment trust's stock valued at $235,000 after buying an additional 33 shares during the period. Finally, Yoder Wealth Management Inc. raised its stake in Public Storage by 5.0% in 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 period. Institutional investors own 78.79% of the company's stock.
Analysts Set New Price Targets
PSA has been the topic of several research reports. Scotiabank upped their target price on Public Storage from $308.00 to $339.00 and gave the company a "sector perform" rating in a research report on Thursday, August 22nd. Royal Bank of Canada decreased their target price on Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. Citigroup upped their target price on Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Wells Fargo & Company decreased their target price on Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group lifted their price objective on Public Storage from $360.00 to $422.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Public Storage presently has an average rating of "Moderate Buy" and a consensus price target of $339.64.
Read Our Latest Analysis on Public Storage
Public Storage Price Performance
NYSE:PSA traded up $3.22 during trading hours on Friday, hitting $335.01. The company's stock had a trading volume of 599,460 shares, compared to its average volume of 791,706. The stock has a fifty day simple moving average of $345.99 and a 200-day simple moving average of $314.26. The company has a market capitalization of $58.66 billion, a P/E ratio of 34.79, a PEG ratio of 5.57 and a beta of 0.70. 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 twelve month low of $251.49 and a twelve month high of $369.99.
Public Storage Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Friday, December 13th. Public Storage's payout ratio is 124.61%.
About Public Storage
(
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.
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