GeoWealth Management LLC Acquires 1,403 Shares of Public Storage (NYSE:PSA)

GeoWealth Management LLC boosted its stake in shares of Public Storage (NYSE:PSA - Free Report) by 24.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,161 shares of the real estate investment trust's stock after buying an additional 1,403 shares during the period. GeoWealth Management LLC's holdings in Public Storage were worth $2,144,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PSA. Bridge Generations Wealth Management LLC bought a new stake in Public Storage during the fourth quarter worth $56,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Public Storage by 7.4% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 425,589 shares of the real estate investment trust's stock valued at $127,280,000 after purchasing an additional 29,220 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Public Storage in the 4th quarter valued at about $32,000. Farringdon Capital Ltd. bought a new position in Public Storage during the fourth quarter worth about $316,000. Finally, Marshall Wace LLP increased its position in Public Storage by 300.2% during the fourth quarter. Marshall Wace LLP now owns 39,936 shares of the real estate investment trust's stock worth $11,958,000 after buying an additional 29,958 shares during the last quarter. Institutional investors own 78.79% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Bank of America upgraded Public Storage from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $349.00 to $368.00 in a research note on Tuesday. 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 research report on Thursday, April 10th. Wells Fargo & Company decreased their price objective on shares of Public Storage from $365.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Royal Bank of Canada cut their target price on shares of Public Storage from $342.00 to $329.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Finally, Mizuho began coverage on shares of Public Storage in a research note on Wednesday, April 9th. They issued a "neutral" rating and a $287.00 price target on the stock. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $336.25.

Public Storage Price Performance

Public Storage stock traded up $0.07 during mid-day trading on Thursday, reaching $295.30. 223,174 shares of the company were exchanged, compared to its average volume of 734,747. The firm has a market cap of $51.80 billion, a PE ratio of 30.66, a PEG ratio of 4.91 and a beta of 0.76. Public Storage has a 12 month low of $256.31 and a 12 month 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. The company has a fifty day simple moving average of $295.53 and a 200-day simple moving average of $310.69.

Public Storage Dividend Announcement

The company also recently disclosed 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 4.06%. Public Storage's dividend payout ratio is 112.89%.

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.