Prestige Wealth Management Group LLC grew its stake in Public Storage (NYSE:PSA - Free Report) by 2,386.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,064 shares of the real estate investment trust's stock after buying an additional 1,981 shares during the period. Prestige Wealth Management Group LLC's holdings in Public Storage were worth $751,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC lifted its stake in Public Storage by 13.1% in the second quarter. Dynamic Advisor Solutions LLC now owns 4,251 shares of the real estate investment trust's stock worth $1,223,000 after purchasing an additional 494 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Public Storage by 22.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 5,932 shares of the real estate investment trust's stock valued at $1,706,000 after purchasing an additional 1,083 shares during the period. Diversified Trust Co lifted its position in shares of Public Storage by 22.5% in the 2nd quarter. Diversified Trust Co now owns 850 shares of the real estate investment trust's stock worth $245,000 after purchasing an additional 156 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Public Storage by 8.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 98,737 shares of the real estate investment trust's stock valued at $28,402,000 after buying an additional 7,632 shares during the period. Finally, V Square Quantitative Management LLC lifted its holdings in Public Storage by 6.9% in the second quarter. V Square Quantitative Management LLC now owns 1,174 shares of the real estate investment trust's stock worth $338,000 after buying an additional 76 shares during the period. Institutional investors own 78.79% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on PSA shares. Wolfe Research upgraded Public Storage to a "strong-buy" rating in a research report on Wednesday, September 4th. Morgan Stanley lifted 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. Wells Fargo & Company dropped their price target on shares of Public Storage from $375.00 to $365.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Barclays reduced their price objective on shares of Public Storage from $381.00 to $380.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Finally, Evercore ISI dropped their target price on shares of Public Storage from $343.00 to $338.00 and set an "in-line" rating on the stock in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $342.07.
Check Out Our Latest Stock Analysis on PSA
Public Storage Price Performance
Shares of NYSE PSA traded down $5.23 during mid-day trading on Tuesday, reaching $330.34. The company's stock had a trading volume of 298,090 shares, compared to its average volume of 711,064. The stock has a fifty day moving average of $339.82 and a two-hundred day moving average of $321.73. The firm has a market capitalization of $57.85 billion, a PE ratio of 34.86, a P/E/G ratio of 5.56 and a beta of 0.71. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.97 and a quick ratio of 0.97.
Public Storage Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid 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 3.63%. Public Storage's payout ratio is 124.61%.
Public Storage Company Profile
(
Free Report)
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.
Further Reading
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