MGO One Seven LLC Purchases 987 Shares of Public Storage (NYSE:PSA)

MGO One Seven LLC boosted its holdings in Public Storage (NYSE:PSA - Free Report) by 67.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,459 shares of the real estate investment trust's stock after buying an additional 987 shares during the period. MGO One Seven LLC's holdings in Public Storage were worth $736,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cohen & Steers Inc. raised its stake in Public Storage by 12.3% during the 4th quarter. Cohen & Steers Inc. now owns 5,433,001 shares of the real estate investment trust's stock valued at $1,626,731,000 after purchasing an additional 592,944 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Public Storage by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,010,044 shares of the real estate investment trust's stock valued at $1,197,769,000 after buying an additional 78,472 shares during the last quarter. Norges Bank bought a new stake in shares of Public Storage in the fourth quarter valued at about $931,286,000. Invesco Ltd. grew its position in Public Storage by 2.6% during the fourth quarter. Invesco Ltd. now owns 1,099,249 shares of the real estate investment trust's stock worth $329,159,000 after buying an additional 27,693 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Public Storage by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,097,640 shares of the real estate investment trust's stock valued at $328,677,000 after acquiring an additional 21,165 shares during the period. 78.79% of the stock is currently owned by institutional investors and hedge funds.

Public Storage Price Performance

PSA stock traded up $1.26 during midday trading on Tuesday, reaching $293.37. 621,322 shares of the company's stock traded hands, compared to its average volume of 738,098. The company has a 50-day simple moving average of $295.02 and a two-hundred day simple moving average of $308.97. 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 has a 1-year low of $256.31 and a 1-year high of $369.99. The company has a market cap of $51.46 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 4.91 and a beta of 0.76.

Public Storage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Thursday, March 13th were given a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $12.00 annualized dividend and a yield of 4.09%. Public Storage's dividend payout ratio (DPR) is 112.89%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Royal Bank of Canada decreased their price objective on Public Storage from $342.00 to $329.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Bank of America raised shares of Public Storage from a "neutral" rating to a "buy" rating and boosted their price target for the company from $349.00 to $368.00 in a report on Tuesday, April 22nd. Truist Financial raised shares of Public Storage from a "hold" rating to a "buy" rating and set a $310.00 price objective for the company in a report on Thursday, April 10th. Barclays reissued an "overweight" rating and issued a $354.00 price target (down previously from $361.00) on shares of Public Storage in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company decreased their price objective on Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Public Storage currently has a consensus rating of "Moderate Buy" and an average price target of $336.25.

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.