Public Storage (NYSE:PSA) Holdings Raised by Equitable Trust Co.

Equitable Trust Co. boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 3.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 77,959 shares of the real estate investment trust's stock after buying an additional 2,344 shares during the period. Public Storage accounts for approximately 1.8% of Equitable Trust Co.'s holdings, making the stock its 9th biggest position. Equitable Trust Co.'s holdings in Public Storage were worth $28,367,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PSA. Envestnet Portfolio Solutions Inc. grew its position in Public Storage by 5.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,563 shares of the real estate investment trust's stock worth $1,324,000 after acquiring an additional 246 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Public Storage during the first quarter valued at $884,000. Empowered Funds LLC increased its stake in Public Storage by 18.9% in the 1st quarter. Empowered Funds LLC now owns 2,040 shares of the real estate investment trust's stock worth $592,000 after buying an additional 324 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Public Storage by 1.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,772 shares of the real estate investment trust's stock valued at $2,254,000 after buying an additional 124 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in Public Storage by 27.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 5,530 shares of the real estate investment trust's stock worth $1,604,000 after acquiring an additional 1,191 shares in the last quarter. 78.79% of the stock is owned by institutional investors.

Public Storage Trading Up 1.9 %

NYSE:PSA traded up $6.29 during trading hours on Friday, reaching $339.42. 611,198 shares of the stock were exchanged, compared to its average volume of 716,600. Public Storage has a twelve month low of $241.60 and a twelve month high of $369.99. The business has a 50-day moving average of $346.94 and a two-hundred day moving average of $311.34. The company 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 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid 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 3.54%. Public Storage's dividend payout ratio (DPR) is presently 124.61%.

Wall Street Analysts Forecast Growth

PSA has been the topic of several research reports. Morgan Stanley raised their price target on Public Storage from $293.00 to $315.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 2nd. Scotiabank increased their price target on shares of Public Storage from $308.00 to $339.00 and gave the stock a "sector perform" rating in a report on Thursday, August 22nd. Bank of America lowered Public Storage from a "buy" rating to a "neutral" rating and set a $318.00 price objective for the company. in a research note on Monday, August 5th. Wells Fargo & Company lowered their price objective on Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Citigroup raised 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Public Storage currently has a consensus rating of "Moderate Buy" and an average target price of $339.71.

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.