Prime Capital Investment Advisors LLC lifted its holdings in shares of Public Storage (NYSE:PSA - Free Report) by 168.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,523 shares of the real estate investment trust's stock after acquiring an additional 2,839 shares during the period. Prime Capital Investment Advisors LLC's holdings in Public Storage were worth $1,646,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of PSA. Empowered Funds LLC increased its holdings in shares of Public Storage by 18.9% in the first quarter. Empowered Funds LLC now owns 2,040 shares of the real estate investment trust's stock valued at $592,000 after purchasing an additional 324 shares during the period. Avantax Advisory Services Inc. raised its position in Public Storage by 30.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,821 shares of the real estate investment trust's stock worth $1,978,000 after buying an additional 1,573 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Public Storage by 4.9% during the 1st quarter. Bleakley Financial Group LLC now owns 1,230 shares of the real estate investment trust's stock valued at $357,000 after acquiring an additional 57 shares during the period. Centersquare Investment Management LLC boosted its holdings in shares of Public Storage by 17.2% in the 1st quarter. Centersquare Investment Management LLC now owns 1,184,490 shares of the real estate investment trust's stock valued at $343,573,000 after acquiring an additional 173,975 shares during the last quarter. Finally, First Foundation Advisors increased its stake in shares of Public Storage by 2.4% in the first quarter. First Foundation Advisors now owns 2,753 shares of the real estate investment trust's stock worth $799,000 after acquiring an additional 64 shares during the period. Institutional investors and hedge funds own 78.79% of the company's stock.
Public Storage Price Performance
Shares of Public Storage stock traded up $3.22 on Friday, hitting $335.01. 584,482 shares of the company were exchanged, compared to its average volume of 717,167. Public Storage has a 1-year low of $251.49 and a 1-year high of $369.99. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $58.66 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 5.57 and a beta of 0.70. The company has a 50-day moving average price of $346.21 and a 200 day moving average price of $313.38.
Public Storage Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 3.58%. The ex-dividend date is Friday, December 13th. Public Storage's payout ratio is currently 124.61%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on PSA shares. Evercore ISI decreased their target price on shares of Public Storage from $343.00 to $338.00 and set an "in-line" rating for the company in a research report on Monday, October 14th. Royal Bank of Canada lowered their target price on 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. 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 research report on Wednesday, October 2nd. Bank of America lowered Public Storage from a "buy" rating to a "neutral" rating and set a $318.00 price objective on the stock. in a research report on Monday, August 5th. Finally, Citigroup lifted their target price on shares of Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $339.64.
Get Our Latest Report on PSA
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.
Featured Articles
Before you consider Public Storage, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Public Storage wasn't on the list.
While Public Storage currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
