Integrated Wealth Concepts LLC Lowers Stake in Public Storage (NYSE:PSA)

Integrated Wealth Concepts LLC decreased its holdings in Public Storage (NYSE:PSA - Free Report) by 62.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,175 shares of the real estate investment trust's stock after selling 6,977 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Public Storage were worth $1,519,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PSA. OFI Invest Asset Management purchased a new position in Public Storage in the 2nd quarter valued at $32,000. Prospera Private Wealth LLC purchased a new position in Public Storage during the third quarter worth about $34,000. Opal Wealth Advisors LLC acquired a new stake in Public Storage in the second quarter valued at about $36,000. Ashton Thomas Securities LLC purchased a new stake in Public Storage in the 3rd quarter valued at approximately $38,000. Finally, EdgeRock Capital LLC acquired a new position in Public Storage during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds own 78.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PSA shares. Truist Financial upped their price objective on Public Storage from $306.00 to $340.00 and gave the stock a "hold" rating in a report on Thursday. Scotiabank boosted their price objective 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. Morgan Stanley increased their target price on shares of Public Storage from $293.00 to $315.00 and gave the company an "equal weight" rating in a report on Wednesday, October 2nd. Wolfe Research raised Public Storage to a "strong-buy" rating in a research note on Wednesday, September 4th. Finally, Barclays dropped their price objective 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. 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $342.07.

Public Storage Trading Up 0.4 %

NYSE PSA traded up $1.33 during mid-day trading on Friday, reaching $334.00. 1,013,532 shares of the stock were exchanged, compared to its average volume of 647,287. The stock has a market capitalization of $58.49 billion, a PE ratio of 34.68, a PEG ratio of 5.57 and a beta of 0.71. 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 has a 1-year low of $256.31 and a 1-year high of $369.99. The business's fifty day simple moving average is $340.38 and its 200 day simple moving average is $321.30.

Public Storage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 3.59%. Public Storage's dividend payout ratio (DPR) is presently 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.