Orion Portfolio Solutions LLC Boosts Stock Position in Public Storage (NYSE:PSA)

Orion Portfolio Solutions LLC lifted its position in shares of Public Storage (NYSE:PSA - Free Report) by 22.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,448 shares of the real estate investment trust's stock after acquiring an additional 1,528 shares during the period. Orion Portfolio Solutions LLC's holdings in Public Storage were worth $3,074,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PSA. Prospera Private Wealth LLC acquired a new position in shares of Public Storage in the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC bought a new position in Public Storage in the 3rd quarter worth approximately $38,000. OFI Invest Asset Management bought a new stake in shares of Public Storage during the second quarter valued at approximately $32,000. EdgeRock Capital LLC bought a new stake in shares of Public Storage during the second quarter valued at approximately $39,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in Public Storage in the third quarter valued at $50,000. 78.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wolfe Research raised Public Storage to a "strong-buy" rating in a research note on Wednesday, September 4th. Royal Bank of Canada reduced their price target on Public Storage from $358.00 to $344.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. Citigroup raised their price objective on Public Storage from $303.00 to $378.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Jefferies Financial Group raised their price objective on Public Storage from $360.00 to $422.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Finally, Barclays decreased their price target on Public Storage from $381.00 to $380.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $342.07.

Public Storage Stock Performance

Shares of PSA stock traded down $4.63 during trading on Wednesday, hitting $323.36. The company's stock had a trading volume of 923,356 shares, compared to its average volume of 714,327. The company has a market cap of $56.62 billion, a PE ratio of 33.62, a P/E/G ratio of 5.56 and a beta of 0.71. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.77. The business has a fifty day moving average of $339.18 and a 200-day moving average of $322.12. Public Storage has a 52 week low of $256.31 and a 52 week high of $369.99.

Public Storage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $12.00 annualized dividend and a yield of 3.71%. Public Storage's payout ratio is 124.61%.

Public Storage Company 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.