Metis Global Partners LLC Purchases 4,273 Shares of Public Storage (NYSE:PSA)

Metis Global Partners LLC lifted its position in Public Storage (NYSE:PSA - Free Report) by 21.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,947 shares of the real estate investment trust's stock after buying an additional 4,273 shares during the period. Metis Global Partners LLC's holdings in Public Storage were worth $8,714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Public Storage during the third quarter worth $38,000. OFI Invest Asset Management acquired a new stake in shares of Public Storage during the second quarter worth $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Public Storage during the second quarter worth $36,000. Crewe Advisors LLC acquired a new stake in shares of Public Storage during the first quarter worth $39,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Public Storage during the second quarter worth $39,000. Institutional investors own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

PSA has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on Public Storage from $293.00 to $315.00 and gave the company an "equal weight" rating in a report on Wednesday, October 2nd. Truist Financial downgraded 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. Scotiabank boosted their price objective on Public Storage from $308.00 to $339.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 22nd. Barclays cut their price objective on Public Storage from $381.00 to $380.00 and set an "overweight" rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company cut their price target on Public Storage from $375.00 to $365.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Public Storage presently has an average rating of "Moderate Buy" and a consensus price target of $339.64.

Public Storage Price Performance

NYSE PSA traded down $3.26 during trading hours on Thursday, reaching $331.68. 681,372 shares of the company's stock were exchanged, compared to its average volume of 717,698. The stock has a market cap of $58.08 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 4.66 and a beta of 0.70. Public Storage has a one year low of $251.49 and a one year high of $369.99. The firm has a fifty day moving average of $346.40 and a 200-day moving average of $313.25. The company has a current ratio of 0.97, a quick 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. 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 dividend on an annualized basis and a yield of 3.62%. 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.