Greykasell Wealth Strategies Inc. Takes Position in Public Storage (NYSE:PSA)

Greykasell Wealth Strategies Inc. bought a new stake in Public Storage (NYSE:PSA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,697 shares of the real estate investment trust's stock, valued at approximately $508,000.

Several other large investors have also recently bought and sold shares of PSA. 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 during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Public Storage during the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new position in shares of Public Storage during the 4th quarter worth approximately $38,000. Toth Financial Advisory Corp increased its stake in shares of Public Storage by 48.2% during the 4th quarter. Toth Financial Advisory Corp now owns 203 shares of the real estate investment trust's stock worth $61,000 after purchasing an additional 66 shares in the last quarter. Finally, Parkworth Wealth Management Inc. purchased a new position in shares of Public Storage during the 4th quarter worth approximately $67,000. Hedge funds and other institutional investors own 78.79% of the company's stock.

Public Storage Stock Down 1.0 %

Shares of NYSE:PSA traded down $2.93 during midday trading on Wednesday, hitting $295.57. 798,673 shares of the company's stock traded hands, compared to its average volume of 676,381. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $51.85 billion, a PE ratio of 30.69, a P/E/G ratio of 4.91 and a beta of 0.73. The firm's fifty day moving average price is $299.89 and its two-hundred day moving average price is $322.86. Public Storage has a twelve month low of $256.31 and a twelve month high of $369.99.

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Public Storage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Thursday, March 13th will be issued a $3.00 dividend. The ex-dividend date is Thursday, March 13th. This represents a $12.00 dividend on an annualized basis and a yield of 4.06%. Public Storage's dividend payout ratio is currently 112.89%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PSA shares. Scotiabank dropped their price objective on shares of Public Storage from $338.00 to $333.00 and set a "sector perform" rating for the company in a research note on Wednesday, March 5th. Wells Fargo & Company lowered their target price on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised shares of Public Storage from a "sell" rating to a "hold" rating and lifted their target price for the stock from $298.00 to $299.00 in a research note on Friday, January 10th. Truist Financial lowered their target price on shares of Public Storage from $316.00 to $310.00 and set a "hold" rating for the company in a research note on Tuesday. Finally, Barclays reaffirmed 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. Seven analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $337.38.

About Public Storage

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.