Larson Financial Group LLC Boosts Stock Holdings in Public Storage (NYSE:PSA)

Larson Financial Group LLC lifted its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 3,714.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,831 shares of the real estate investment trust's stock after buying an additional 1,783 shares during the period. Larson Financial Group LLC's holdings in Public Storage were worth $666,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Public Storage by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,813,136 shares of the real estate investment trust's stock worth $1,023,080,000 after buying an additional 54,992 shares in the last quarter. APG Asset Management US Inc. grew its position in Public Storage by 4.8% during the 2nd quarter. APG Asset Management US Inc. now owns 2,202,117 shares of the real estate investment trust's stock worth $623,485,000 after acquiring an additional 100,000 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Public Storage by 8.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,195,785 shares of the real estate investment trust's stock worth $343,968,000 after purchasing an additional 95,080 shares in the last quarter. Daiwa Securities Group Inc. raised its position in Public Storage by 9.7% in the second quarter. Daiwa Securities Group Inc. now owns 707,952 shares of the real estate investment trust's stock valued at $203,642,000 after purchasing an additional 62,784 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC boosted its stake in shares of Public Storage by 3.4% during the first quarter. Lasalle Investment Management Securities LLC now owns 541,835 shares of the real estate investment trust's stock valued at $157,165,000 after purchasing an additional 17,701 shares in the last quarter. 78.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PSA. Evercore ISI lowered their price objective on Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a research note on Monday, October 14th. Truist Financial downgraded shares of Public Storage from a "buy" rating to a "hold" rating and set a $306.00 price target for the company. in a research note on Thursday, August 1st. Royal Bank of Canada reduced their price objective on shares of Public Storage from $358.00 to $344.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. Wolfe Research raised Public Storage to a "strong-buy" rating in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company reduced their price target 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $339.64.

Public Storage Stock Up 0.6 %

Shares of NYSE PSA traded up $2.25 during midday trading on Tuesday, hitting $350.09. 650,835 shares of the stock traded hands, compared to its average volume of 715,848. 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 one year low of $252.96 and a one year high of $369.99. The business has a 50 day moving average price of $343.52 and a two-hundred day moving average price of $317.53. The company has a market cap of $61.30 billion, a PE ratio of 36.12, a P/E/G ratio of 5.61 and a beta of 0.70.

Public Storage Announces Dividend

The business 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 3.43%. Public Storage's dividend payout ratio (DPR) is currently 124.61%.

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.